NDTV reports operating loss of Rs 27 cr in Q1 FY2017

NDTV Group ended the first quarter ended June 30, 2016 with an operating loss of Rs 27 crore, compared to Rs 15 crore loss in the corresponding quarter of last fiscal. Q1 is traditionally the weakest quarter for the Group for cyclical reasons.

Revenues for NDTV 24x7 and NDTV Profit/ Prime were stronger, posting year-on-year growth of 10 per cent and 21 per cent, respectively.

In May 2016, the Board of Directors of the company had decided to consider the de-merger and separate listing of the technology and digital businesses of the company. Ernst & Young and Shardul Amarchand Mangaldas presented the various alternatives available for the proposed de-merger. For this purpose, the Board in its meeting held on August 5, 2016 gave its approval for constitution of a committee comprising independent directors Amal Ganguli, John O’Loan, Indrani Roy and Kaushik Dutta to further evaluate the de-merger of the NDTV Group in a time bound manner.