ITV

Tag: NGEN Media Services

  • NDTV floats subsidiary in Netherlands; Q3 net profit up 85% at Rs 48.8 million

    NDTV floats subsidiary in Netherlands; Q3 net profit up 85% at Rs 48.8 million

    MUMBAI: News major NDTV Ltd, while declaring an 85 per cent rise in net profits for the quarter, anounced that it has floated a subsidiary – NDTV Networks BV in Netherlands.

    This new company will wholly own NDTV Networks Plc and its underlying subsidiaries – NDTV Imagine, NDTV Lifestyle, NDTV Convergence and NDTV Labs and 50 per cent in NGEN Media Services. All these subsidiaries are currently wholly owned by their respective parents and would engage in implementing the new business initiatives to be undertaken by NDTV, the company said in a release.

    Indiantelevision.com had first reported that NDTV Group had floated Networks Plc, UK, which would play a big role in bringing in investments for the entertainment and other non news channels. The company had applied for Foreign Investment Promotion Board (FIPB). Reportedly, the approval is for pumping in $130-160 million in the form of foreign direct investment (FDI).

    Hindu Business Line has reported that the subsidiary would raise funds in the overseas market, particularly through listing on the Alternative Investment Market (AIM) segment of the London Stock Exchange. While $106 million would be invested into NDTV Imagine (a non-news Hindi mass entertainment channel), FDI to the tune of $25.23 million would be pumped into NDTV Lifestyle which would be engaged in the business of content production for TV channels dedicated to travel, food, fashion, shopping and health and wellness in India and abroad.

    NDTV Q3 net profit up 85 per cent at Rs 48.8 million

    Meanwhile, NDTV has reported 85 per cent rise in net profit to Rs 48.8 million in the third quarter ended 31 December 2006 against Rs 26.4 million in the year-ago period.

    Total income rose 15.21 per cent to Rs 793.8 million from Rs 689 million during the same period. The company’s operating profit margin dropped from 22.24 per cent to 17.77 per cent year on year.

    Profits and revenues rose despite huge incubation costs, the company said in a release.

    “NDTV’s Indonesian JV (Astro Awani) made profits this quarter within just six months of its launch. The channel is on track to launch its Malaysian channel shortly. The company has also launched operations in Australia and New Zealand,” the statement added.

  • Genpact names Ricky Bindra as CEO of NGEN Media Services

    Genpact names Ricky Bindra as CEO of NGEN Media Services

    MUMBAI: Genpact, a global provider of business services and technology solutions, has announced the appointment of Ricky Bindra as the CEO of the recent Genpact- NDTV joint venture, NGEN Media Services, today. 

    In his new role, Bindra will be responsible for the growth along with revenue and EBIT targets for NGEN Media Services, according to an official release.

    The Genpact- NDTV joint venture will be offering outsourcing solutions to address the huge demand driven by changing customer behavior and the dynamism of the regulatory environment, impacting the media industry today.

    The partnership combines Genpact’s offshore experience, global delivery capabilities, sales and marketing infrastructure, reputation for operational excellence with NDTV’s brand image, domain knowledge and world class media skill sets, according to an official release.

    Prior to joining Genpact, he has worked with organizations such as Accenture, Phoenix Global and Wipro Spectramind in leadership roles across operations and business development.