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.
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 companys 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.
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
Networks Plc, UK, seeks FIPB nod