NDTV rallies on turnaround in Q3 numbers
The news broadcaster has turned profitable after a gap of ten quarters.
New Delhi Television (NDTV) has locked in upper circuit of 10% at Rs 69.45 on NSE after reporting a consolidated net profit of Rs 14.87 crore for the third quarter ended December 31, 2012 (Q3) due to lower selling and administration cost.
The news broadcaster has turned profitable after a gap of ten quarters. The company had a net loss of Rs 6.05 crore during the corresponding quarter last fiscal.
The company said that profit in the quarter is a result of gains from digitisation and internal cost controls. The selling and administration expenses has declined by 34% to Rs 22.73 crore from Rs 34.63 crore in recently concluded quarter.
“Total income from operations however, grew marginally 2.4% to Rs 130 crore for the quarter, compared to Rs 127 crore in the year ago period, while expenses were down to Rs 121 crore, from Rs 131 crore,” NDTV said in a statement.
The stock opened at Rs 63.85 and has seen a combined 100,405 shares changing hands on the counter so far. There are pending buy orders for 100,396 shares on NSE and BSE at 1104 hours.
The news broadcaster has turned profitable after a gap of ten quarters. The company had a net loss of Rs 6.05 crore during the corresponding quarter last fiscal.
The company said that profit in the quarter is a result of gains from digitisation and internal cost controls. The selling and administration expenses has declined by 34% to Rs 22.73 crore from Rs 34.63 crore in recently concluded quarter.
“Total income from operations however, grew marginally 2.4% to Rs 130 crore for the quarter, compared to Rs 127 crore in the year ago period, while expenses were down to Rs 121 crore, from Rs 131 crore,” NDTV said in a statement.
The stock opened at Rs 63.85 and has seen a combined 100,405 shares changing hands on the counter so far. There are pending buy orders for 100,396 shares on NSE and BSE at 1104 hours.