NEW DELHI TELEVISION LIMITED

Regd Office :
207,Okhla Industrial Estate, Phase-III
(Rs. in Lacs except per share data)
New Delhi - 110020

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008
A B C D E

Three Months Ended Three Months Ended Six Months Ended Sept Six Months Ended Sept Year Ended
Particulars Sept 30-08 Sept 30-07 30-08 30-07 March 31-08

Sl No Audited Audited Audited Audited Audited

1 Income from Operations 12,027 7,174 23,968 14,189 36,613
2 Expenditure
a.Production Expenses 7,022 1,997 14,007 3,345 12,165
b.Personnel Expenses 5,217 3,345 10,101 6,450 14,845
c.Special employee bonus 55 64 55 851 906
d.Marketing, Distribution & Promotional Expenses 5,795 1,537 11,514 2,718 12,560
e.Operating & Administrative Expenses 4,286 1,895 7,827 3,231 9,924
f. Depreciation 748 521 1,453 1,017 2,309
Total Expenditure 23,123 9,359 44,957 17,612 52,709
Profit/(Loss) From Operations Before Other
3 Income,Interest & Exceptional Items(1-2) (11,096) (2,185) (20,989) (3,423) (16,096)
4 Other Income 764 575 1,186 929 2,181
Profit/(Loss) Before Interest & Exceptional Items
5 (3+4) (10,332) (1,610) (19,803) (2,494) (13,915)
6 Interest Cost 1,296 579 2,311 784 2,419
Profit/(Loss) After Interest but before Exceptional
7 Items (5-6) (11,628) (2,189) (22,114) (3,278) (16,334)

8 Exceptional Items - - - - -
Profit/(Loss) From Ordinary Activities Before Tax
9 (7-8) (11,628) (2,189) (22,114) (3,278) (16,334)
10 Cost of stock options 649 253 1,277 587 1,350

11 Amount arising on dilution of stake in a subsidiary (See Note -3 ) - - 64,253 - -

12 Tax Expense
- Current 26 42 96 140 390
- Tax for Earlier Years 22 - 22 - -
- Deferred (658) (134) (510) (212) 179
- Fringe Benefit Tax 265 58 703 107 312
13 Net Profit/(Loss) From Ordinary Activities after Tax
Before Minority Interest and Share in Associate (9- (11,932) (2,408) 40,551 (3,900) (18,565)
10-11-12)
14 Share of Minority Interest 6 26 (175) (5) (21)
15 Share in Profit/(Loss) of Associate - (93) - (107) (313)
16 Net Profit/(Loss) From Ordinary Activities After Tax (11,938) (2,527) 40,726 (4,002) (18,857)
(13-14-15)
17 Extraordinary Item - - - - -
18 Net Profit/(Loss) For The Period (16-17) (11,938) (2,527) 40,726 (4,002) (18,857)
19 Paid -up Equity Share Capital 2,506 2,501 2,506 2,501 2,503
(Face value Rs 4/- per share)
20 Reserves (Excluding Revaluation Reserve) - - - - (17,308)
21 Earnings Per Share (of Rs.4/-each)
Before Extraordinary Items
- Basic (19.07) (4.04) 65.07 (6.40) (30.16)
- Diluted (19.07) (4.04) 63.20 (6.40) (30.16)
After Extraordinary Items
- Basic (19.07) (4.04) 65.07 (6.40) (30.16)
- Diluted (19.07) (4.04) 63.20 (6.40) (30.16)
22 Dividend per share (face value of Rs.4 per share)
Final Dividend (Rs. per share) 0.80
Dividend percentage 20%
23 Aggregate of Public Shareholding
- No. of equity shares of Rs 4/- each 23,039,364 29,217,772 23,039,364 29,217,772 24,439,017
- percentage of Shareholding 36.77% 46.73% 36.77% 46.73% 39.05%
Notes :
1 The Board of Directors at their meeting held on October 1, 2008 has approved the Scheme of Arrangement ('the Scheme') for demerger of the News businesses of the Company. Accordingly,
the Company will be split into two groups of companies: one group of companies will carry out 'News and Other Businesses' and the other group of companies will carry out 'Entertainment and
Specified Allied Businesses'. This demerger will be carried out pursuant to Section 391 to 394 read with sections 78, 100 to 103 of the Companies Act, 1956. After the demerger, for every one
share currently held in the Company, a shareholder will hold one share in each company i.e. one share in the 'News and Other businesses' Company and one share in the 'Entertainment and
Specified Allied Businesses' Company.The Appointed Date for the Scheme will be 1st April, 2009. The Scheme is subject to the approval of the Hon'ble High Court Of Delhi and other requisite
approvals.

2 The financial results have been taken on record by the Board of Directors in its meeting held on October 14, 2008. The financial results are audited and the auditors' report contains no
qualification.The auditors report on the consolidated financial statements for the year ended March 31, 2008 contains no qualification other than remuneration of Rs. 254 Lacs paid to the
directors including directors of its subsidiaries for the years ended March 31,2008 and March 31,2007 which is subject to Central Government approval due to inadequacy of profits. Additionally,
100,000 stock options of the Company granted in previous year and 35,278 shares of its subsidiaries granted is subject to approval of the shareholders of the respective companies. During the
quarter, the Company has received the necessary approvals in respect of remuneration paid amounting to Rs.51 lacs for the year ended March 31, 2008 and grant of 100,000 stock options to
one of its directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.

3 During the quarter ended June 30, 2008, the Group entered into a share subscription agreement with Universal Studios International B.V. and NBC Universal Inc. for subscription of 915,498
shares into the said overseas subsidiary for an amount of US$ 150 million (Rs,64,253 lacs) resulting in effective dilution of the Group's stake in the downstream subsidiaries from 100% to 74%.

4 The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment.
5 As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended September 30, 2008:

Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter

Nil 9 9
6 During the quarter and half year ended September 30, 2008, the Company has issued 73,065 shares pursuant to the exercise of stock option by certain employees under the ESOP scheme.

7 Previous period figures have been regrouped/recast wherever considered necessary.

8 The above results are the consolidated financial results for the quarter and half year ended September 30, 2008. The standalone financial results for the quarter and the half year ended
September 30, 2008 are available on the Company's website www.ndtv.com/Investors and also on the website of National stock Exchange, www.nseindia.com and Bombay Stock Exchange,
www.bseindia.com.

For and On Behalf of Directors

Place: New Delhi

Date: October 14, 2008 Chairman
0
 NEW DELHI TELEVISION LIMITED
Regd Office :
207,Okhla Industrial Estate, Phase-III
(Rs. in Lacs except per share data)
New Delhi - 110020

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008
A B C D E

Three Months Ended Three Months Ended Six Months Ended Sept Six Months Ended Sept Year Ended
Particulars Sept 30-08 Sept 30-07 30-08 30-07 March 31-08

Sl No Audited Audited Audited Audited Audited

1 Income from Operations 7,391 6,777 14,364 12,873 30,562
2 Expenditure
a.Production Expenses 1,485 1,641 2,829 2,944 6,061
b.Personnel Expenses 2,869 2,195 5,628 4,321 9,575
c.Special employee bonus - 14 - 14 14
d.Marketing, Distribution & Promotional Expenses 2,110 1,029 4,249 2,210 6,094
e.Operating & Administrative Expenses 1,950 1,646 3,689 2,700 5,581
f. Depreciation 588 468 1,161 921 2,038
Total Expenditure 9,002 6,993 17,556 13,110 29,363
3 Profit/(Loss) From Operations Before Other
Income,Interest & Exceptional Items(1-2) (1,611) (216) (3,192) (237) 1,199
4 Other Income 229 14 2,810 106 1,288
5 Profit/(Loss) Before Interest & Exceptional Items
(3+4) (1,382) (202) (382) (131) 2,487
6 Interest Cost 349 64 648 89 385
7 Profit/(Loss) After Interest But Before Exceptional
Items (5-6) (1,731) (266) (1,030) (220) 2,102

8 Exceptional Items - - - - -
9 Profit/(Loss) From Ordinary Activities Before Tax
(7-8) (1,731) (266) (1,030) (220) 2,102
10 Cost of stock options 151 231 434 532 1,183
11 Tax Expense
- Current - - - - 90
- Tax for Earlier Years - - - - (4)
- Deferred (645) (149) (493) (230) 183
- Fringe Benefit Tax 67 47 125 87 222
12 Net Profit/(Loss) from Ordinary Activities After Tax
(1,304) (395) (1,096) (609) 428
(9-10-11)
13 Extraordinary Item - - - - -
14 Net Profit/(Loss) For The Period (12-13) (1,304) (395) (1,096) (609) 428
15 Paid -up Equity Share Capital 2,506 2,501 2,506 2,501 2,503
(Face value Rs 4/- per share)
16 Reserves (Excluding Revaluation Reserve) - - - - 2,104
17 Earnings Per Share (of Rs.4/-each)
Before Extraordinary Items
- Basic (2.08) (0.63) (1.75) (0.98) 0.68
- Diluted (2.08) (0.63) (1.75) (0.98) 0.66
After Extraordinary Items
- Basic (2.08) (0.63) (1.75) (0.98) 0.68
- Diluted (2.08) (0.63) (1.75) (0.98) 0.66
18 Dividend per share (face value of Rs.4 per share)
Final Dividend (Rs. per share) 0.80
Dividend percentage 20%
17 Aggregate of Public Shareholding
- No. of equity shares of Rs 4/- each 23,039,364 29,217,772 23,039,364 29,217,772 24,439,017
- percentage of Shareholding 36.77% 46.73% 36.77% 46.73% 39.05%
Notes :
1 The Board of Directors at their meeting held on October 1, 2008 has approved the Scheme of Arrangement ('the Scheme') for demerger of the News businesses of the Company. Accordingly,
the Company will be split into two groups of companies: one group of companies will carry out 'News and Other Businesses' and the other group of companies will carry out 'Entertainment and
Specified Allied Businesses'. This demerger will be carried out pursuant to Section 391 to 394 read with sections 78, 100 to 103 of the Companies Act, 1956. After the demerger, for every one
share currently held in the Company, a shareholder will hold one share in each company i.e. one share in the 'News and Other businesses' Company and one share in the 'Entertainment and
Specified Allied Businesses' Company.The Appointed Date for the Scheme will be 1st April, 2009. The Scheme is subject to the approval of the Hon'ble High Court Of Delhi and other requisite
approvals.
2 Subject to necessary approvals, during the quarter ended June 30, 2008, the Company decided to transfer the business of Metronation Delhi Channel to its wholly owned subsidiary NDTV News
Limited (NNL) with effect from April 1, 2008. Pending such approvals the Company and NNL have entered into an agreement to outsource various activities related to the Channel to NNL.
However, in view of the proposed demerger, the Company has decided not to execute the transfer but continue with the outsourcing arrangements until demerger. Accordingly, the standalone
results for the quarter (Col A )and the half year (Col C) ended September 30,2008 include recovery of costs amounting to Rs.368 lacs (net) (previous period Nil) and Rs.740 lacs (net) (previous
period Nil) respectively from NNL.

3 The income from operations includes income of Rs.704 lacs (previous period Rs.666 lacs) for the quarter ended September 30, 2008 (Col A) and Rs.1574 lacs (previous period Rs.930 lacs) for
the half year ended September 30, 2008 (Col C) charged from subsidiaries towards the shared services provided by the Company. Other Income for the half year ended September 30,2008 (Col
C) includes income from consultancy for an amount of Rs 2,410 lacs, towards services provided by the Company to its subsidiary in connection with dilution of stake in a subsidiary (previous
period Nil).
4 The financial results have been taken on record by the Board of Directors in its meeting held on October 14, 2008. The financial results are audited and the auditors' report contains no
qualification. The auditors report on the the standalone financial statements for the year ended March 31, 2008 contains no qualification other than remuneration of Rs.113 lacs paid to the
directors for the years ended March 31,2008 and March 31,2007 which is subject to Central Government approval due to inadequacy of profits. Additionally, 100,000 stock options of the
Company granted in previous year and 35,278 shares of its subsidiaries granted to a director is subject to approval of the shareholders of the respective Companies. During the quarter, the
Company has received the necessary approvals in respect of remuneration paid amounting to Rs.51 lacs for the year ended March 31, 2008 and grant of 100,000 stock options to one of its
directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.
5 The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment.
6 As per the terms of Clause 41 of the Listing Agreement, given below is the information on investor complaints for the quarter ended September 30, 2008:

Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter

Nil 9 9
7 During the quarter and half year ended September 30, 2008, the Company has issued 73,065 shares pursuant to the exercise of stock option by certain employees under the ESOP scheme.

8 Previous period figures have been regrouped/recast wherever considered necessary.

For and On Behalf of Directors

Place: New Delhi

Date: October 14, 2008 Chairman