It seems the good times are around for New Delhi Television (NDTV). The company narrowed its fiscal first-quarter consolidated loss while the news business turned profitable. Consolidated net loss in the June quarter stood at Rs 1.49 crore (Rs 14.9 million) compared to a loss of Rs 24.04 crore (Rs 240.4 million) a year ago. Consolidated revenue witnessed expansion of 40 per cent to Rs 150 crore (Rs 1.50 billion), gaining from the quarter which saw elections. The marked improvement in performance is attributable to stronger growth in revenue as also convergence business maintaining growth momentum. Moreover, increased ad spending on television channels, thanks to the general election, added to NDTV’s showing. In spite of the company incurring higher production expenses and other key operating variables, EBITDA or operating losses were trimmed to Rs 7.60 million during the quarter under review. In Q1FY14, EBITDA loss stood at Rs 23.35 crore (Rs 233.5 million).
Read more at: http://www.televisionpost.com/television/ndtv-cuts-consolidated-loss-in-q1-news-biz-is-profitable/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/television/ndtv-cuts-consolidated-loss-in-q1-news-biz-is-profitable/ | TelevisionPost.com