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NDTV slips into red in the quarter ending September 30th ,05, reporting a net loss of Rs 6.5 crore ,against a profit of Rs 2.8 crore in the corresponding period of the last fiscal. Loss crops up because the companys revenues in the period rose 18% to 43 crore. In the first half of the of this fiscal, NDTVs profits fell 37% to Rs 6.5 crore from Rs 10.4 crore in the same period last year. Revenues in the April - September 05 period stood at Rs 84.5 crore ,against Rs 76.9 crore in the same period last year. "The first half of the year has been special in terms of costs. Employee salary increments have been higher than the normal as one-time adjustment to the changed market scenario." NDTV explained in a statement. NDTV also said that the expenses had also seen a jump due to the launch of a business channel NDTV Profit. "Traditionally, it takes atleast a year for revenues to pick up from the date of a launch. Media Group said, "For NDTV Profit,
The gestation period has been much shorter, and there are very positive signs of revenue picking up in the last few weeks …Which is within six months of its launch."
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| Posted : 10/18/2005 |
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