The Board of Directors of New Delhi Television (NDTV) have given the go-ahead to a proposal which aims to seek the approval of the Information and Broadcasting Ministry to launch nine news channels in different languages.
The nod from the Board was received on May 17.
As per the intimation sent to stock exchanges - BSE and NSE - by NDTV, the channel launch is planned to be carried out in phases. The dates for the same will be conveyed to the exchanges following the nod from the I&B Ministry for the channel launch.
Earlier, NDTV had reported a decline in consolidated revenue from operations, down by 35.5% to Rs 66.96 crore from Rs 103.8 crore in FY 2022-23.
It also reported a significant decline in net profit for the quarter ending March 2023, with a decrease of 97.5% to Rs 59 lakh compared to Rs 24.16 crore in the same quarter last year.
Last year in December, Adani Group gained complete control of news broadcaster NDTV after it acquired most of the stake of founders Prannoy Roy and Radhika Roy at a premium of almost 17% over the rate it paid to minority shareholders of the firm.
The Adani Group holds over 64% of New Delhi Television (NDTV). In March 2023, the channel said it has appointed former Sebi Chairman Upendra Kumar Sinha and Welspun India CEO and MD Dipali Goenka as Independent Directors.