NDTV Convergence Posts 48% Increase In Revenues; NDTV Reports Net Loss Of Rs. 173.89Cr
The division has recorded a net profit for the year.
The various portals owned by the division include the flagship website NDTV.com, as well as subsites NDTV Profit, Khabar, Movies, Cricket, Doctor, Cooks, Good Times as well as the video site Tubaah. Together, they have reached a record of 286 million page views in March 2011.
Now, NDTV Convergence is expected to grow rapidly with 3G and broadband wireless coming in, the company has said in the media release.
NDTV Convergence also has a mobile channel called NDTV Active.
NDTV runs three news channels â€“ NDTV 24/7, NDTV India, and NDTV Profit as well as NDTV Good Times, NDTV Hindu and global channels Astro Awani, a channel in Malaysia; and Independent Television with Beximco Group in Bangladesh. Its subsidiaries include NDTV Lifestyle, NDTV Convergence, NDTV Labs, which develops media software and technology and a 50:50 joint venture with IT company Genpact called NGEN Media Services, a media process outsourcing business.
Ad revenues for the channel NDTV GoodTimes increased by 39 per cent annually over the last year. The company now plans to expand the channel's reach in 2011-12. NDTV has also made forays internationally with channels like Astro Awani, a channel in Malaysia; and Independent Television with Beximco Group in Bangladesh. The revenues for NDTV Worldwide are up by 34% as compared to last year.
For the fiscal year 2011, the company registered consolidated net losses of Rs 173.89 crore on revenues of Rs 418.57 crore. Employee costs reached Rs 147.62 crore for the year while total expenditure stood at Rs 528.82 crore.
For the quarter ended March 31, 2011, NDTV registered a consolidated net loss of Rs. 63.67 crore over total sales/income from operations during the fourth quarter of Rs. 131.87 crore. The employee cost stands at Rs. 40.69 crore and the total expenditure is Rs. 147.97 crore.
NDTV has reported a stand alone profit after interest (but before exceptional items) for the quarter of Rs.8 crores, compared to a loss of Rs.3 crores registered in March 2010. It witnessed a 30 per cent year on year rise in standalone revenues for the fourth quarter ended March 2011 to Rs. 115 crore.
The company's EBIDTA has more than doubled to Rs.19 crore, up from Rs. 8 crore in March 2010. The company has said in the media releasethat cost controls are in place and the next year should show further improvements.
On May 6, NDTV shares closed at Rs. 64.55 on BSE and Rs. 64.30 on NSE, up about 0.5 per cent for the day. But the price of the shares is still almost 50 per cent down from the 52 week high of Rs. 130.30.