New businesses foist Rs 7.4 cr loss on NDTV
The consolidated, audited results of NDTV show a large loss after tax of Rs 7.4 crore for the fourth quarter ended March 31, 2007, reports Gurbir Singh.business Updated: May 23, 2007 23:57 IST
The consolidated, audited results of NDTV showed a large loss after tax of Rs 7.4 crore for the fourth quarter ended March 31, 2007, compared to the profit after tax of Rs 3.6 crore for the comparable period last year.
The net loss for the financial year 2006-07 too was a substantial Rs 14.45 crore compared to a marginal loss of Rs 35 lakh in the previous financial year.
NDTV said the current net loss figures could not be compared to the previous year, as they included costs incurred in setting up its new businesses under the banner of NDTV Networks.
The 100 per cent subsidiary was launched to develop the company's non-news business segment, including broadcasting in entertainment and lifestyle.