NDTV net loss widens due to impact of demonetisation
NDTV’s consolidated net loss widened to Rs18 crore in the quarter ended 31 December from Rs13 crore in the year-ago period
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New Delhi: Broadcaster New Delhi Television Ltd (NDTV) on Friday said consolidated net loss widened to Rs18 crore in the quarter ended 31 December from Rs13 crore in the year-ago period, primarily due to a dip in TV advertising revenue following demonetisation.
The company, which operates NDTV 24X7, NDTV Prime, NDTV India and NDTV Good Times channels, reported a drop in revenue to Rs133 crore in the quarter from Rs150 crore a year ago.
The company’s television news business generated revenue of Rs108 crore, down from Rs130 crore in the same period last year.
The company led by Prannoy Roy said it had initiated steps to rationalize costs and increase productivity with the aim of improving overall efficiency of operations.
The company said its flagship website ndtv.com crossed over 90 million monthly unique visitors in the December quarter.