NDTV Posts Rs 105 Crore Operating Loss In Q1 FY09
By Cerius Shah - Sun 03 Aug 2008 02:56 AM PST
Further proof that launching a GEC in this market is like dating Paris Hilton. NDTV has posted a loss of Rs 105 Crores as compared to Rs 10.89 crores in the same quarter last year. Do note NDTV Imagine was launched last quarter but associated costs in the industry have ramped up tremendously Q1 FY09. Take for example marketing expenses, which have grown 80% QoQ.
During the same quarter, NDTV had entered into a share subscription agreement with Unviersal Studios and NBC Universal (NYSE: GE) for subscription of 915,498 shares for a $150 million (approx Rs 642.53 crore) for a dilution of stake from 100% to 74% in an overseas subsidary. This gives it a very good looking bump of Rs 524 crore in Profits after Tax as opposed to a loss of Rs 15 crore in the same quarter last year. The results oddly enough make little of other verticals such as NDTV Convergence, stating its primary segment of operation is television and there is no seperate reportable segment. Consolidated results here
