NDTV floats subsidiary in Netherlands; Q3 net profit up 85% at Rs 48.8 million

MUMBAI: News major NDTV Ltd, while declaring an 85 per cent rise in net profits for the quarter, anounced that it has floated a subsidiary - NDTV Networks BV in Netherlands.

This new company will wholly own NDTV Networks Plc and its underlying subsidiaries - NDTV Imagine, NDTV Lifestyle, NDTV Convergence and NDTV Labs and 50 per cent in NGEN Media Services. All these subsidiaries are currently wholly owned by their respective parents and would engage in implementing the new business initiatives to be undertaken by NDTV, the company said in a release. had first reported that NDTV Group had floated Networks Plc, UK, which would play a big role in bringing in investments for the entertainment and other non news channels. The company had applied for Foreign Investment Promotion Board (FIPB). Reportedly, the approval is for pumping in $130-160 million in the form of foreign direct investment (FDI).

Hindu Business Line has reported that the subsidiary would raise funds in the overseas market, particularly through listing on the Alternative Investment Market (AIM) segment of the London Stock Exchange. While $106 million would be invested into NDTV Imagine (a non-news Hindi mass entertainment channel), FDI to the tune of $25.23 million would be pumped into NDTV Lifestyle which would be engaged in the business of content production for TV channels dedicated to travel, food, fashion, shopping and health and wellness in India and abroad.

NDTV Q3 net profit up 85 per cent at Rs 48.8 million

Meanwhile, NDTV has reported 85 per cent rise in net profit to Rs 48.8 million in the third quarter ended 31 December 2006 against Rs 26.4 million in the year-ago period.

Total income rose 15.21 per cent to Rs 793.8 million from Rs 689 million during the same period. The company?s operating profit margin dropped from 22.24 per cent to 17.77 per cent year on year.

Profits and revenues rose despite huge incubation costs, the company said in a release.

"NDTV?s Indonesian JV (Astro Awani) made profits this quarter within just six months of its launch. The channel is on track to launch its Malaysian channel shortly. The company has also launched operations in Australia and New Zealand," the statement added.

Latest Reads
Sony Entertainment Television appoints Sagnik Mukherjee as AVP marketing

Sagnik Mukherjee is set to join Sony Entertainment Television as associate vice president marketing, a source close to the development confirmed to

Television TV Channels People
Viacom18 COO Raj Nayak quits

Colors' Big Boss has quit, according to media reports. We are talking about Viacom18 COO Raj Nayak, who is the brain behind the most popular reality show Big Boss.

Television TV Channels GECs
Monuments Turn Red, As National Geographic Raises an Alarm for Planet Conservation

Glaciers are melting, sea levels are rising, pollution in various parts of the world is at its peak, and tonnes of plastic waste is in the oceans.

Television TV Channels English Entertainment
Sony BBC Earth hosts the extraordinary Natural History Producer and Global Storyteller, Jonny Keeling, in India

Sony BBC Earth, India’s No. 1 factual entertainment channel and home to the most iconic and premium content, continues to deliver to its promise of making the viewers ‘feel alive’.

Television TV Channels Factual @ Discovery
‘Ab Jungle meinhoga Dangal’ with the Hindi Television Premiere of Jumanji: Welcome to the Jungleon November 24th at 8pm only on &pictures

Ever wonder how it feels to be inside a game and play the character you choose? In the brand-new adventure Jumanji: Welcome to the Jungle, the tables are turned as four teenagers in detention are sucked into the world of Jumanji.

Television TV Channels Movie Channels
Broadcasters see regional adex space growing

Now that the Hindi fervour has died down, broadcasters and advertisers have latched on to the regional segment. It's no wonder that the adex in the space is expected to grow as well. According to the global ad growth forecast of GroupM, India’s adex is expected to grow at 14.2 per cent compared to...

Television TV Channels Regional
Bodhi Tree focusing on three verticals to scale up business

Over the top (OTT) services have given a big boost to production houses in the country  Bodhi Tree Multimedia, started by Mautik Tolia and Sukesh Motwani five years ago, only concentrated on general entertainment programs on TV initially. Following the change in the overall entertainment industry,...

Television Production House Fiction
Mumbai Team franchisee owner unable to meet financial obligations towards Zee Maharashtra Kushti Dangal

Mr. Pranav Rajesh Dake, owner of Zee Maharashtra Kushti Dangal’s Mumbai team – Mumbai Astra has regrettably been unable to meet the financial obligations towards Zee Maharashtra Kushti Dangal (ZMKD), its players and technicians.

Television TV Channels Viewership
Zee TV gets ratings boost from Zee Rishtey Awards

Zee TV's recently concluded annual awards property, Zee Rishtey Awards, clocked the highest viewership ratings across award shows that took place in the last two years. As per the recently released BARC HSM weekly data (Urban + Rural) for the week 44 '18, it secured a viewership of 5495 TVTs, which...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories