NDTV Q1 loss at Rs 18 cr; appoints Vikram Chandra as group CEO

NDTV Ltd said the company has narrowed its losses to under Rs 18 crore in first quarter.

Media group NDTV Ltd today said the company has narrowed its losses to under Rs 18 crore in the first quarter ended June,and has appointed Vikram Chandra as the group’s CEO.

Chandra,who has been with the company for 17 years,will be responsible for corporate functions,operations and overall performance,NDTV said in a statement.

He will also become a member of the NDTV Board,it added.

Meanwhile,K V L Narayan Rao,who was the CEO so far,has been elevated to Executive Vice Chairperson.

“Along with Narayan Rao,we have been talking about a succession plan for NDTV for a couple of years now. We believe that change is good. It brings in new blood,new ideas,different perspectives and paves way for growth. We believe that the time for change has come,” Executive Co-Chairpersons Radhika and Prannoy Roy said.

“We are delighted at Vikram’s appointment and believe he is the right person to take NDTV to the next level,” they added. Chandra headed NDTV’s business channel NDTV Profit and was the CEO of NDTV Networks.

The appointment was approved by the board here.

NDTV also announced a lower consolidated net loss of Rs 17.98 crore for the quarter ended June 30,as against a net loss of Rs 31.11 crore in the same period last fiscal.

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Income from operations stood at Rs 107.37 crore for the reported period as against Rs 89.42 crore.

“The financials of business have turnaround this quarter on the back of a wider portfolio of income and lower dependence on ad revenues,” NDTV said.