AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED
MARCH 31, 2007 |
(Rs. in Crore except per share data) |
| |
|
Consolidated |
Standalone |
| |
|
(A) |
(B) |
(C) |
(D) |
(E) |
(F) |
(G) |
(H) |
(I) |
(J) |
| Sl No |
Particulars |
Nine Months Ended December 31-06 |
Three months Ended March 31-07 |
Three months Ended March 31-06 |
Audited Year Ended Mar 31 -07 |
Audited Year Ended Mar 31 -06 |
Nine Months Ended December 31-06 |
Three months Ended March 31-07 |
Three months Ended March 31-06 |
Audited Year Ended Mar 31 -07 |
Audited Year Ended Mar 31 -06 |
| 1 |
Income from Operations |
197.00 |
81.45 |
69.95 |
278.45 |
221.00 |
168.01 |
67.37 |
52.56 |
235.38 |
191.29 |
| 2 |
Other Income |
0.96 |
0.28 |
0.49 |
1.24 |
2.90 |
0.87 |
0.23 |
0.47 |
1.10 |
2.86 |
| 3 |
Total Income |
197.96 |
81.73 |
70.44 |
279.69 |
223.90 |
168.88 |
67.60 |
53.03 |
236.48 |
194.15 |
|
a.Production Expenses (See Note - 1(a) ) |
38.74 |
14.56 |
11.47 |
53.30 |
37.71 |
37.73 |
13.91 |
11.49 |
51.64 |
37.80 |
|
b.Personnel Expenses (See Note - 1(b) ) |
71.32 |
25.83 |
22.08 |
97.15 |
80.13 |
56.83 |
18.33 |
18.30 |
75.16 |
68.34 |
|
c.Marketing, Distribution & Promotional Expenses |
29.41 |
11.31 |
7.57 |
40.72 |
23.11 |
29.41 |
11.31 |
7.57 |
40.72 |
23.11 |
|
d.Operating & Administrative Expenses (See Note - 1(b) ) |
34.26 |
22.82 |
11.36 |
57.08 |
37.55 |
27.59 |
13.05 |
9.16 |
40.64 |
32.01 |
| 4 |
Total Expenditure |
173.73 |
74.52 |
52.48 |
248.25 |
178.50 |
151.56 |
56.60 |
46.52 |
208.16 |
161.26 |
| 5 |
Profit/(Loss)
before Interest, Depreciation & Tax |
24.23 |
7.21 |
17.96 |
31.44 |
45.40 |
17.32 |
11.00 |
6.51 |
28.32 |
32.89 |
| 6 |
Interest |
0.43 |
0.62 |
- |
1.05 |
- |
0.43 |
0.60 |
- |
1.03 |
- |
| 7 |
Depreciation |
13.47 |
5.42 |
4.16 |
18.89 |
15.40 |
12.89 |
4.93 |
4.01 |
17.82 |
14.94 |
| |
| 8 |
Operating Profit/(Loss) |
10.33 |
1.17 |
13.80 |
11.50 |
30.00 |
4.00 |
5.47 |
2.50 |
9.47 |
17.95 |
| 9 |
Cost of stock options (See Note - 1(b) & 5 ) |
28.95 |
6.66 |
8.96 |
35.61 |
27.88 |
24.21 |
5.26 |
7.24 |
29.47 |
26.16 |
| 10 |
Tax Expense |
|
|
|
|
|
|
|
|
|
|
|
- Current |
1.62 |
1.86 |
3.14 |
3.48 |
4.13 |
0.01 |
(0.01) |
(0.75) |
- |
- |
|
-Tax for Earlier Years written back |
- |
(0.68) |
- |
(0.68) |
- |
- |
(0.11) |
- |
(0.11) |
- |
|
- Deferred |
(14.64) |
0.09 |
(2.66) |
(14.55) |
(3.78) |
(14.75) |
0.06 |
(2.65) |
(14.69) |
(3.77) |
|
- Fringe Benefit Tax |
1.45 |
0.64 |
0.76 |
2.09 |
2.12 |
1.25 |
0.44 |
0.63 |
1.69 |
1.81 |
| 11 |
Profit/(Loss) after Tax before minority interest and Profits of Associate |
(7.05) |
(7.40) |
3.60 |
(14.45) |
(0.35) |
(6.72) |
(0.17) |
(1.97) |
(6.89) |
(6.25) |
| 12 |
Share of Minority Interest |
1.91 |
0.50 |
1.58 |
2.41 |
1.63 |
- |
- |
- |
- |
- |
| 13 |
Share in Profits of Associate |
1.49 |
0.65 |
- |
2.14 |
- |
- |
- |
- |
- |
- |
| 14 |
Net Profit/(Loss) carried to Reserves & Surplus |
(7.47) |
(7.25) |
2.02 |
(14.72) |
(1.98) |
(6.72) |
(0.17) |
(1.97) |
(6.89) |
(6.25) |
| 15 |
Paid -up Equity Share Capital |
24.56 |
24.98 |
24.32 |
24.98 |
24.32 |
24.56 |
24.98 |
24.32 |
24.98 |
24.32 |
|
(Face value Rs 4/- per share) |
|
|
|
|
|
|
|
|
|
|
| 16 |
Reserves (Excluding Revaluation Reserve) |
- |
- |
- |
26.12 |
46.69 |
- |
- |
- |
22.62 |
35.36 |
| 17 |
Earnings Per
Share (of Rs.4/-each) |
|
|
|
|
|
|
|
|
|
|
|
- Basic |
(1.22) |
(1.19) |
0.33 |
(2.41) |
(0.32) |
(1.10) |
(0.03) |
(0.32) |
(1.13) |
(1.03) |
|
- Diluted |
(1.22) |
(1.19) |
0.33 |
(2.41) |
(0.32) |
(1.10) |
(0.03) |
(0.32) |
(1.13) |
(1.03) |
| 18 |
Dividend per share (face value of Rs.4 per share) |
|
|
|
|
|
|
|
|
|
|
|
Final Dividend (Rs. per share) |
|
|
|
|
|
|
|
|
0.80 |
0.80 |
|
Dividend percentage |
|
|
|
|
|
|
|
|
20% |
20% |
| 19 |
Aggregate of Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
- No. of equity shares of Rs 4/- each |
28,097,282 |
29,150,407 |
27,496,032 |
29,150,407 |
27,496,032 |
28,097,282 |
29,150,407 |
28,097,282 |
29,150,407 |
27,496,032 |
|
- percentage of Shareholding |
45.76% |
46.67% |
45.22% |
46.67% |
45.22% |
45.76% |
46.67% |
45.76% |
46.67% |
45.22% |
| Notes : |
| 1a) |
Consolidated results of NDTV Group include the
results of 100% (previous period 100%) subsidiary NDTV News Limited and
75.20% (previous period 81.18%) subsidiary NDTV Media Limited, 100%
(previous period n.a) of NDTV Networks BV group and 20% (previous period
n.a) of its associate Astro Awani Network Limited. NDTV Networks BV wholly owns NDTV Networks Plc and its underlying subsidiaries NDTV Imagine Limited, NDTV Lifestyle Limited, NDTV Convergence Limited and NDTV Labs Limited and 50% in NGEN Media Services Private Limited. The NDTV Group also includes results of100% (previous period n.a) subsidiary Emerging Markets 24X7 B.V. incorporated as a 50% Dutch joint venture with NNPLC. All these subsidiaries would engage in implementing the new business initiatives to be undertaken by the Company. |
| b) |
During the
year, NNPLC has incurred costs amounting to Rs.11.2 Crores in relation to
these initiatives including Rs 6.4 Crores reimbursed to NDTV for conceptualisng, setting up and other services rendered in relation to the new businesses and Rs 1.53 Crores relating to the issue of shares to ComVentures (Refer note 2 below). The cost incurred during the quarter was Rs 6 Crores. |
| 2 |
NNPLC has
raised US $20 Million through Investments by ComVentures V.I., L.P in
preferred stock and warrants with an option to purchase preferred stock
which would automatically convert to common stock at a specified rate in
case NNPLC decides for an Initial Public Offering (IPO) resulting in dilution of Group's stake by not below 4.87% from currently 100%. |
| 3 |
Subsequent
to the year end NNPLC has entered into a non binding agreement with
investment bankers for underwriting subscription of upto US$ 100 million
step up coupon convertible bonds due 2012. The interest rate varies
progressively from 4% in the first 12 months, 6% between 12 to 24 months
to 9% between 24 to 60 months. The bondholders have the option to convert
the bonds to equity capital at a conversion ratio that vary depending upon
the status of predetermined events, as defined in the agreement, at the
time of the conversion. The repayment of the bonds is required to be guaranteed by New Delhi Television Limited. The potential dilution on conversion is likely to be not below 20%. |
| 4 |
The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment. |
| 5 |
During the
quarter and the year ended March 31, 2007, the Company has issued
1,053,125 (previous year nil) and 1,654,375 shares (previous year nil)
respectively pursuant to the exercise of stock options by certain
employees under the ESOP scheme. This includes 824,375 shares granted
pursuant to accelerated vesting of options, which were due to be vested in
the normal course during July to December 2007. The additional cost of
stock options as a result of accelerated vesting amounting to Rs 2.54
crores has been charged to expenditure during the current quarter. |
|
|
| 6 |
As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended March 31, 2007: |
|
| Pending at the beginning of the quarter |
Received during the quarter |
Disposed of during the quarter |
| Nil |
5 |
5 |
|
| 7 |
The audited
financial statements for the year ended March 31, 2007 have been taken on
record by the Board of Directors in its meeting held on May 22, 2007.The
financial statements are audited and the auditors' report contains no qualifications except for remuneration of Rs.0.64 Crores paid to the directors which is subject to Central Government approval due to inadequacy of profits. The information presented above is extracted from audited financial statements as stated. |
| 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: 22nd May , 2007 |
