New Delhi Television Ltd. (NDTV) has achieved a cash break-even in the quarter ended March 31, 2004. The turnaround in the fourth quarter took place after losses in the first three quarters. Fiscal 2003-04 was NDTV's first year of operation as a broadcaster.
For the full financial year, on a consolidated basis, NDTV has reported an income of Rs 68.98 crore and a net loss of Rs 49.62 crore. The company's loss for the first three quarters was reported at Rs. 47.38 crore. This increased marginally in the fourth quarter due to a small amount provided for depreciation of Rs. 2.61 crore.
NDTV's EBIDTA. (earnings before interest, depreciation and tax) in the fourth quarter amounted to Rs 1.75 crore.
This turnaround from red into black came from a sharp increase in income from advertisers. NDTV's income for the fourth quarter amounted to Rs 23.98 crore, compared to an income of Rs 34.14 crore for the earlier nine months. In fact, the average quarterly income reported during the first nine months works out to Rs 11.38 crore.
The company, three months back, had come out with an IPO of 1.5 crore equity shares of Rs 4 each at an issue price of Rs 70 per share. At the time of the IPO, the company had a solid base of advertisers with 249 clients and 402 brands. Today, this base has grown substantially to 321 clients and 565 brands.
