Live Post
Tata Group To End All Business Dealings With Cyrus Mistry's Family Firms
GJM supremo discharged in Madan Tamang murder case
Trinamool Congress leading in municipal polls
CoA tells Supreme Court: Sack BCCI's top three office-bearers
Chandigarh: 10-year-old rape survivor denied abortion by Supreme Court gives birth to a girl
Gujarat police officers Amin and Barot quit
After controversy, DD denies blacking out Tripura CM, says speech was aired
Sierra Leone mourns 100 children among dead in massive flooding

NDTV narrows Q1 loss; majority stake in FGVL to be sold to Autobyte

MUMBAI: New Delhi Television Ltd (NDTV) has narrowed its fiscal first quarter consolidated net loss to Rs 22.01 crore compared to Rs 44.55 crore a year ago.

Total income stood almost flat at Rs 109.6 crore in the quarter ended 30 June as against Rs 108.57 crore in the first quarter of FY17.

Total expenses was Rs 128.43 crore, down 13.08% from Rs 147.76 crore in the prior year.

Click here to enlarge image

Revenue from television media and related operations was Rs 103.48 crore compared to Rs 105.61 crore a year ago.

Revenue from its retail/e-commerce stood at Rs 3.18 crore in Q1 of FY18, up from Rs 1.31 crore in the earlier year.

Click here to enlarge image

The stock of the company remained unchanged at Rs 47.25 on BSE today.

NDTV said it is raising capital for Fifth Gear Ventures Ltd (FGVL), a material subsidiary of the company, from Autobyte Pvt Ltd. NDTV’s board has approved the infusion of funds in FGVL by Autobyte and now shareholders’ approval will be sought.

The shareholding of NDTV group in FGVL will be diluted following this transaction. The control and management of FGVL will move from NDTV group to Autobyte. FGVL will cease to be a subsidiary of NDTV.