News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic. Consolidated net loss of Rs 8.74 crore in January-March compared with loss of Rs 1.35 crore profit in the same period a year back, according to a stock exchange filing by the company. Loss, however, narrowed from Rs 10.13 crore in the December quarter as its digital footprint expanded and gained traction.
Media company New Delhi Television (NDTV) recorded its highest-ever consolidated profit at the group level in over a decade for financial year 2021-22 (FY22), said co-chairpersons Radhika Roy and Prannoy Roy in the firm's latest annual report. Addressing shareholders, the Roys, founder-promoters of NDTV, said the company had emerged financially strong in FY22, continuing the turnaround of recent years. "Both the television and digital branches of the NDTV group reported their highest-ever profit. NDTV Ltd (television arm) recorded a profit of Rs 59.18 crore.
After a $110 billion rout in market value, embattled Adani group got some reprieve on Tuesday after shares of most of its listed firms rebounded on bourses and international rating agencies said there was no credit risk for lenders with exposure to the group. The group, which is in the midst of a political storm after US-based short-seller Hindenburg Research's adverse report dated January 24 triggered a meltdown in group stocks wiping out billions of dollars in market value, also had a mixed day with the quarterly results of four of its entities, particularly Adani Ports and Special Economic Zone reporting a 12.94 per cent decline in consolidated net profit to Rs 1,336.51 crore for the December quarter 2022. Shares of flagship firm Adani Enterprises settled nearly 15 per cent higher at Rs 1,802.50 apiece while shares of Adani Wilmar jumped 5 per cent to end at Rs 399.40 on BSE.
Vishvapradhan Commercial Private Ltd, a little-known entity through which the Adani Group has launched a hostile bid for NDTV Ltd, had an annual turnover of just Rs 60,000 few years back but it gave Rs 400 crore of interest-free loans to the broadcaster in 2009, as per Sebi orders.
The I-T department had issued re-assessment notice in March 2015 to the media group after noting that Rs 642 crore has allegedly not been computed for the tax assessment purposes of NDTV for financial year 2007-2008.
Chennai has just got its own news and entertainment channel, courtesy a 50:50 joint venture between NDTV Ltd and The Hindu.
New Delhi Television Ltd on Tuesday said it has filed an application with the ministry of information and broadcasting for permission to uplink its fourth news channel.
Nayak, who along with some of his associates held 26 per cent in NDTV Media, will set up a separate media company called AIDEM Ventures Pvt Ltd. NDTV and Nayak have entered into an agreement, under which the media house will buy back the shares of Nayak and his associates in NDTV Media.
In order to acquire scale, a host of news and current affairs broadcasters are looking at starting even entertainment channels.
News broadcasting company NDTV Ltd has roped in one of Bollywood's leading producers and directors - Karan Johar - for its general entertainment channel venture.
The petition challenges the constitutional validity of the government order, the channel said in filing to the stock exchanges.
NDTV will become a full time infotainment and entertainment channel
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.
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