The Hindu Business Line : NDTV records consolidated loss of Rs 160 cr in Q4

New Delhi Television didn’t have good news to share in its fourth quarter results, reporting a consolidated net loss of Rs 160 crore. Last year, it had reported a Rs 116.5-crore loss during the quarter ended March 31, 2008.

Consolidated net revenues were nearly flat at Rs 123 crore in Q4, 2009. For the financial year 2008-09, consolidated net profits were at about Rs 120 crore compared to a net loss of Rs 186 crore the previous year. This, however, includes Rs 642.5 crore arising on dilution of stake in a subsidiary during the course of the year.

The company otherwise made an operating loss, before other income and exceptional items, of Rs 484 crore, compared to a loss of Rs 161 crore in 2007-08.

NDTV Imagine

The operating loss incurred is the result of investments into the one-year-old Hindi entertainment channel, NDTV Imagine, said the company. “NDTV and its associated companies have a healthy cash balance, which was significant in the media industry and the current environment, and would be a major asset in overcoming challenges, if the global recession is prolonged in any way,” said the company.

Cost-cutting measures including salary cuts and “right-sizing” were acknowledged. The number of personnel at NDTV has been brought down by over 20 per cent in the immediate term.

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