NDTV pares loss to Rs 2.15 crore

CORPORATE SCORECARD

Delhi-based news broadcaster NDTV posted a net loss of Rs 2.15 crore for the first quarter ended June 30 compared with a net loss of Rs 10.53 crore incurred during the corresponding period of 2006-07. Total income during the period stood at Rs 61.88 crore (Rs 54.78 crore).

It posted a consolidated net loss of Rs 14.92 crore for the first quarter of FY08, compared with a consolidated net loss of Rs 8.24 crore during the corresponding period last year. Its consolidated total income during the period was Rs 73.69 crore (Rs 64.07 crore). Consolidated costs include expenditure on roll out of new businesses including entertainment and lifestyle channels.

According to a company release, the expansion of NDTV beyond news under NDTV Networks is proceeding as per schedule. The release said that the first lifestyle channel was slated to be launched in the coming weeks. It also added that NDTV Convergence has developed new high revenue initiatives. With $120 million funds flowing in, NDTV Networks has achieved funding for present business plans. During FY07, NDTV Networks, a wholly owned subsidiary of NDTV, was incorporated to seize opportunities in entertainment space "� entertainment, lifestyle, media technology and outsourcing. NDTV Imagine has been incorporated to foray into the television space. The company plans to launch a general entertainment channel and, going forward, will expand into movies, regional youth and kids programming. NDTV Life will capitalise on retail and consumer boom by providing an up-market lifestyle channel for the global urban Indian. NDTV Convergence will exploit the synergies between television, internet and mobile. Another arm of NDT V Networks is NDTV Labs, which has been developing quality media software and technology for captive use. This is now being globally marketed and commercially exploited. In the outsourcing space, the joint venture company NGEN Media Services has received enthusiastic response from global media firms in areas of post production services and digital asset management.