Date:24/05/2007 URL: http://www.thehindubusinessline.com/2007/05/24/stories/2007052405381500.htm

Back NDTV pares Q4 loss to Rs 17 lakh

Our Bureau

Plans to raise Rs 400 cr

New Delhi May 23 Announcing its plans to raise Rs 400 crore, media company NDTV has brought down its losses to Rs 17 lakh during the fourth quarter ended March 31 2007, compared with a net loss of Rs 196.7 lakh reported for the corresponding quarter last year.

Net sales for the quarter were up 22 per cent to Rs 67.3 crore, against Rs 52.5 crore reported during the corresponding quarter the previous year.

For the year ended March 31, the company reported a loss of Rs 6.89 crore, against a loss of Rs 6.24 crore reported for the financial year 2005-06. Net sales grew by 18.73 per cent to Rs 235.38 crore against Rs 191.29 crore for the same period in the previous year. The company said its consolidated results were not comparable to last year as they included costs incurred in setting up new businesses under NDTV Network Plc, the company's UK subsidiary.

The Rs 400-crore is to be raised through a mix of debt and equity, and could involve a dilution of up to 10 per cent of the company's present paid-up capital. ENAM Financial Consultants, BSR & Co and KPMG have been appointed as advisors.

Overseas plans

The company also plans to follow up its Indonesian channel, with the launch of a television channel in Malaysia and one in West Asia soon.

The company's board approved appropriate structural changes to allow growth opportunities in the News and Business segments.