New Delhi Television (NDTV) more than doubled its net loss to Rs 22.7 crore for the quarter ended June 30. The company had a net loss of Rs 9.81 crore during the corresponding period in the last financial year.
“Carriage fees remains a cause for major concern. Carriage fees of Rs 31 crore contributed to the overall loss,” the company said.
Income from operations stood at Rs 82.8 crore for the quarter, a decline of 13.6 per cent, compared to Rs 95.8 crore made in the year-ago period. The company said the global economic downturn had “exacerbated” conditions in the domestic market which had traditionally been tough in the first quarter of fiscal years.
Advertising revenues increased by 10 per cent during the quarter, compared to the same period last year.
Total expenditure during the quarter declined marginally to Rs 99.8 crore from the earlier Rs 100.2 crore largely on the back of cost rationalisation measures.
NDTV said the company had recorded a strong growth in its lifestyle business (NDTV Good Times), internet and mobile apps venture (NDTV Convergence) and consultancy arm (NDTV Worldwide), which had resulted in lower dependence on ad sales. While revenues at NDTV Convergence grew by 35 per cent , those at NDTV Worldwide increased by 27 per cent in the period.
Shares of the company closed at Rs 53.1 a piece, up 3.8 per cent from its previous close on the BSE.
