|
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2007 |
(Rs. in Crore except per share data) |
| |
|
Standalone |
Consolidated |
| |
|
(A) |
(B) |
|
(C) |
(D) |
|
(E) |
(F) |
(G) |
(H) |
(I) |
(J) |
| Sl No |
Particulars |
Three months Ended Dec. 31-07 |
Three months Ended Dec. 31-06 |
(%) Increase |
Nine months Ended Dec. 31-07 |
Nine months End Dec. 31-06 |
(%) Increase |
Audited Year Ended Mar 31 -07 |
Three months Ended Dec. 31-07 |
Three months Ended Dec. 31-06 |
Nine months Ended Dec. 31-07 |
Nine months Ended Dec. 31-06 |
Audited Year Ended Mar 31 -07 |
| 1 |
Income from Operations |
89.20 |
67.33 |
|
215.08 |
168.01 |
|
235.38 |
102.03 |
79.12 |
243.92 |
197.00 |
278.45 |
| 2 |
Other Income |
0.27 |
0.20 |
|
1.33 |
0.87 |
|
1.10 |
6.46 |
0.26 |
15.75 |
0.96 |
1.24 |
| 3 |
Total Income |
89.47 |
67.53 |
32.5% |
216.41 |
168.88 |
28.1% |
236.48 |
108.49 |
79.38 |
259.67 |
197.96 |
279.69 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
a.Production Expenses |
15.34 |
11.28 |
|
42.10 |
37.73 |
|
51.64 |
15.83 |
12.34 |
43.38 |
38.74 |
52.76 |
| |
b.Personnel Expenses |
22.71 |
18.11 |
|
64.81 |
56.83 |
|
75.16 |
30.62 |
24.82 |
85.62 |
71.32 |
95.34 |
| |
c.Special employee bonus |
- |
- |
- |
0.14 |
- |
- |
- |
0.00 |
|
0.21 |
|
|
| |
d.Marketing, Distribution & Promotional Expenses |
12.70 |
10.69 |
|
38.44 |
29.41 |
|
40.72 |
12.48 |
10.69 |
38.21 |
29.41 |
40.72 |
| |
e.Operating & Administrative Expenses |
13.86 |
9.45 |
|
35.96 |
27.59 |
|
40.64 |
17.58 |
12.13 |
42.52 |
34.26 |
56.61 |
| |
f. Cost of new
channels (See Note - 5) |
3.51 |
|
|
5.76 |
|
|
|
36.46 |
|
68.98 |
|
2.82 |
| 4 |
Total Expenditure |
67.93 |
49.53 |
37.1% |
186.97 |
151.56 |
23.4% |
208.16 |
112.97 |
59.98 |
278.92 |
173.73 |
248.25 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Profit/(Loss) before Interest, Depreciation & Tax |
21.54 |
18.00 |
19.7% |
29.44 |
17.32 |
70.0% |
28.32 |
(4.48) |
19.40 |
(19.25) |
24.23 |
31.44 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Finance cost |
1.34 |
0.28 |
|
2.24 |
0.43 |
|
1.03 |
8.72 |
0.28 |
16.56 |
0.43 |
1.05 |
| 7 |
Depreciation |
5.42 |
4.77 |
|
14.63 |
12.89 |
|
17.82 |
6.13 |
5.01 |
16.30 |
13.47 |
18.89 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Operating Profit/(Loss) |
14.78 |
12.95 |
14.1% |
12.57 |
4.00 |
214.2% |
9.47 |
(19.33) |
(14.11) |
(52.11) |
10.33 |
11.50 |
| 9 |
Cost of stock options (See Note - 3) |
3.59 |
5.09 |
|
8.91 |
24.21 |
|
29.47 |
3.89 |
6.78 |
9.76 |
28.95 |
35.61 |
| 10 |
Tax Expense |
|
|
|
|
|
|
|
|
|
|
|
|
| |
- Current |
|
|
|
|
0.01 |
|
|
1.72 |
1.54 |
3.12 |
1.62 |
3.48 |
| |
- Tax for Earlier Years |
|
|
|
|
|
|
(0.11) |
|
|
0 |
|
(0.68) |
| |
- Deferred |
3.53 |
0.35 |
|
1.23 |
(14.75) |
|
(14.69) |
3.43 |
0.40 |
1.31 |
(14.64) |
(14.55) |
| |
- Fringe Benefit Tax |
0.59 |
0.45 |
|
1.46 |
1.25 |
|
1.69 |
0.84 |
0.51 |
1.91 |
1.45 |
2.09 |
| 11 |
Profit/(Loss) after Tax before minority interest and Profit/(Loss) of Associate |
7.07 |
7.06 |
0.1% |
0.96 |
(6.72) |
114.3% |
(6.89) |
(29.21) |
4.88 |
(68.21) |
(7.05) |
(14.45) |
| 12 |
Share of Minority Interest |
|
|
|
|
|
|
|
0.75 |
0.90 |
0.70 |
1.91 |
2.41 |
| 15 |
Dividend ( including dividend tax) |
|
|
|
|
|
|
|
|
|
|
|
|
| 13 |
Share in Profits of Associate |
|
|
|
|
|
|
|
(2.06) |
0.84 |
(3.13) |
1.49 |
2.14 |
| 14 |
Net
Profit/(Loss) carried to Reserves & Surplus |
7.07 |
7.06 |
|
0.96 |
(6.72) |
|
(6.89) |
(32.03) |
4.82 |
(72.05) |
(7.47) |
(14.72) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 15 |
Paid -up Equity Share Capital |
25.01 |
24.56 |
|
25.01 |
24.56 |
|
24.98 |
25.01 |
24.56 |
25.01 |
24.56 |
24.98 |
| |
(Face value Rs 4/- per share) |
|
|
|
|
|
|
|
|
|
|
|
|
| 16 |
Reserves (Excluding Revaluation Reserve) |
|
|
|
|
|
|
22.62 |
|
|
|
|
26.12 |
| 17 |
Earnings Per Share (of Rs.4/-each) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Before Extraordinary Items |
|
|
|
|
|
|
|
|
|
|
|
|
| |
- Basic |
1.13 |
1.15 |
|
0.15 |
(1.10) |
|
(1.13) |
(5.12) |
(0.78) |
(11.52) |
(1.22) |
(2.41) |
| |
- Diluted |
1.12 |
1.09 |
|
0.15 |
(1.10) |
|
(1.13) |
(5.12) |
(0.75) |
(11.52) |
(1.22) |
(2.41) |
| |
After Extraordinary Items |
|
|
|
|
|
|
|
|
|
|
|
|
| |
- Basic |
1.13 |
1.15 |
|
0.15 |
(1.10) |
|
(1.13) |
(5.12) |
(0.78) |
(11.52) |
(1.22) |
(2.41) |
| |
- Diluted |
1.12 |
1.09 |
|
0.15 |
(1.10) |
|
(1.13) |
(5.12) |
(0.75) |
(11.52) |
(1.22) |
(2.41) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 18 |
Dividend per share (face value of Rs.4 per share) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Final Dividend (Rs. per share) |
|
|
|
|
|
|
0.80 |
|
|
|
|
|
| |
Dividend percentage |
|
|
|
|
|
|
20% |
|
|
|
|
|
| 19 |
Aggregate of Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
| |
- No. of equity shares of Rs 4/- each |
24,390,832 |
28,097,282 |
|
24,390,832 |
28,097,282 |
|
29,150,407 |
24,390,832 |
28,097,282 |
24,390,832 |
28,097,282 |
29,150,407 |
| |
- percentage of Shareholding |
39.00% |
45.76% |
|
39.00% |
45.76% |
|
46.67% |
39.00% |
45.76% |
39.00% |
45.76% |
46.67% |
|
Notes : |
| 1 a) |
Consolidated results of New Delhi Television Limited includes the following: |
| |
Effective Shareholding as at |
|
|
Effective Shareholding as at |
| |
December 31, 2007 |
December 31, 2006 |
|
|
December 31, 2007 |
December 31, 2006 |
| |
Subsidiaries |
|
|
Joint Venture |
|
| |
NDTV News Limited |
100% |
100% |
|
NGEN Media Services Private Limited |
50% |
50% |
| |
NDTV Media Limited |
75.20% |
75.20% |
|
Associate |
|
| |
NDTV BV (formerly NDTV Networks BV) |
100% |
100% |
|
Astro Awani Network Limited |
20% |
20% |
| |
NDTV Networks Plc |
100% |
100% |
|
|
|
|
| |
NDTV Imagine Limited |
82.05% |
100% |
|
|
|
|
| |
NDTV Lifestyle Limited |
100% |
100% |
|
|
|
|
| |
NDTV Convergence Limited |
100% |
100% |
|
|
|
|
| |
NDTV Labs Limited |
100% |
100% |
|
|
|
|
| |
NDTV
Emerging
Markets B.V. (formerly Emerging Markets 24X7 BV |
100% |
N/A |
|
|
|
|
|
| b) |
The income from operations in
standalone results includes income of Rs.6.67 Crores (previous
period 0.37 Crores) for the quarter ended December 31, 2007 (Col A)
and Rs. 15.97 Crores (previous period 1.13 Crores) for nine months
(Col C) ended December 31, 2007 charged from subsidiaries towards
the shared services provided
by the Company. The standalone results for the quarter and the nine months ended December 31, 2006 (Col B & Col D respectively) are net of costs amounting to Rs. 5.21 crores reimbursed from NDTV Networks Plc and its subsidiaries, being the costs attributable to the new business initiatives undertaken by the Company.
|
| 2 |
During the quarter ended December
31, 2007, the Company has issued 8,910 shares pursuant to the
exercise of stock options by certain employees under the ESOP
scheme. Further during the quarter the company has
granted 100,000 stock options to a wholetime director subject to approval from the shareholders and Central Government, if required. Fringe Benefit Tax ("FBT") on Employees’ Stock Option Plan accrues on the date of exercise of the stock options. FBT on exercise of stock options amounting to Rs 0.87 cr has been paid by the company which will be recovered from the employees as per the scheme.
|
| 3 |
As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended December 31, 2007:
|
| |
| Pending at the beginning of the quarter |
Received during the quarter |
Disposed of during the quarter |
| Nil |
10 |
10 |
|
| 4 |
During the quarter, Dr Prannoy Roy & Mrs Radhika Roy, promoters of the Company have acquired further stake of 7.73% (48,35,850 Equity shares) in the Company from GA Global Investments Ltd, a Foreign Company. Consequently as per Securities and Exchange Board of India (Substantial acquisition & takeover) regulation, 1997 the promoters have made a public announcement to make an Open Offer to the shareholders for 20% of Share Capital of the Company.
|
| 5(a) |
The
expenses on new channels in standalone results include production
expenses of Rs 1.20 cr (previous period-Nil), personnel expenses of
Rs 1.33 cr (previous period-Nil), marketing & distribution
expenses of Rs 0.80 cr (previous period-Nil) and operating &
administrative expenses of Rs 0.18 cr (previous period-Nil) for the
quarter ended December 31, 2007 (Col A) and production expenses of
Rs 2.25 cr (previous period-Nil), personnel expenses of Rs 2.44 cr
(previous period-Nil), marketing & distribution expenses of Rs
0.83 cr (previous period-Nil) and operating & administrative expenses of Rs 0.24 cr (previous period-Nil) for nine months (Col C) ended December 31, 2007. |
| (b) | The expenses on new channels in
consolidated results include production expenses of Rs 8.37 cr
(previous period-Nil), personnel expenses of Rs 8.07cr (previous
period-Nil), special employee bonus expense of Rs 0.40 cr (previous
period-Nil), marketing & distribution expenses of Rs 11.83 cr
(previous period-Nil) and operating & administrative expenses of
Rs 7.79cr (previous period-Nil) for the quarter ended December 31,
2007 (Col F), production expenses of Rs 14.27 cr (previous
period-Nil), personnel expenses of Rs 17.57 cr (previous
period-Nil), special employee bonus expense of Rs 8.70 cr (previous
period-Nil), marketing & distribution expenses of Rs 13.28 cr
(previous period-Nil) and operating & administrative expenses of
Rs 15.16 cr (previous period-Nil) for nine months (Col H) ended
December 31, 2007 and production expenses of Rs 0.54 cr , personnel
expenses of Rs 1.36 cr, special employee bonus expense of Rs 0.45 cr
and operating & administrative expenses of Rs 0.47 cr for financial year (Col J) ended March 31, 2007. |
| 6 | The quarterly financial results
have been taken on record by the Board of Directors in its meeting
held on January 17, 2008.The financial results are audited and the
auditors' report contains no qualification other than grant of stock
options to a director being subject to approval by the shareholders.
The auditors' report on the standalone financial statements and the
consolidated financial statements for the year ended March 31, 2007
contains no qualification except for remuneration of Rs. 0.33 crores
and Rs. 0.64 crores respectively paid to the directors including
directors of its subsidiaries which is subject to Central Government
approval due to inadequacy of profits. The Company has initiated the
process of obtaining the necessary approvals for the same. |
| 7 | The Company currently operates
primarily in a single segment of television media and accordingly, there is no separate reportable segment. |
| 8 |
Previous period figures have been
regrouped/recast
wherever considered necessary. |
| For and on behalf of Board of Directors |
| Dr.Prannoy Roy |
| Chairman |
| Place: New Delhi |
| Date: January 17, 2008 |