NDTV Ltd has reported results for the quarter and year ended 31st March 2012.
NDTV group crosses the Rs 500 crore mark, in terms of total income
NDTV group reports positive EBITDA for the year ended 31 March 2012
Significant reduction in PAT level losses for the year ended 31 March 2012 and the quarter ended 31 March 2012
NDTV group operating income, for the year ended 31 March 2012, rose to Rs 4.83bn, an increase of 12% over last financial year
NDTV has undertaken a group-wide exercise to improve efficiencies and cut wasteful expenses, while ensuring that content and production values are not compromised.
As a result, there has been a significant 16% reduction in operating & administration expenses over the last financial year.
New frontiers successfully opened
Substantial growth in new businesses giving rise to new revenue streams. The key contributors were the lifestyle, new media and consultancy businesses.
NDTV Good Times at number 1
NDTV Good Times continues its reign as the numero uno lifestyle channel in India.
NDTV Lifestyle, which operates the channel NDTV Good Times, witnessed a significant rise in revenues, reporting around 38% growth over the last fiscal year.
NDTV Convergence improves profitability
NDTV Convergence, which operates the Internet and mobile business of the group, recorded a five-fold jump in PAT, during the year ended 31 March 2012. Revenues grew by 60% over the last fiscal year.
www.ndtv.com continues to be one of India’s largest news & information portals, recording nearly 2 billion page views and nearly 2 billion minutes of video views, during the year.
NDTV WorldWide turns profitable
PAT for NDTV WorldWide, the media consultancy business of the group, doubled during the year ended 31 March 2012. Revenues tripled over the last fiscal year.
NDTV Worldwide continues to strengthen its client base every quarter and enhancing its service offering.
ONE TIME WRITE-OFFS
The major exceptional items relate to closure of operations of Turner General Entertainment, which operated the General Entertainment Channel, ‘Imagine’ (earlier, known as ‘NDTV Imagine’ prior to sale of stake to the Time Warner group), in which NDTV had retained a minor stake. Further, an investment in a listed entity, whose market value has reduced significantly, has also been provided for.