New Delhi Television (NDTV) reported a consolidated net loss of Rs 63.51 crore for Q2 FY27, improving from the Rs 74.01 crore loss in the year-ago period. Alongside the financial results, the board approved raising up to Rs 800 crore via unsecured, non-convertible perpetual debentures. These instruments carry a 9% cumulative coupon, payable at the board's discretion. The move aims to bolster capital as the firm works to address ongoing operational losses and navigate pending regulatory and legal matters.
NDTV Reports Q2 Loss Improvement; Approves Rs 800 Crore Capital Infusion
Q2 Net Loss: Rs 63.51 crore (vs Rs 74.01 crore in Q2 FY26)
Fundraising Plan: Rs 800 crore via unlisted perpetual debentures
Reader Takeaway: Revenue growth provides minor operational tailwind, but persistent net losses and new debt obligations remain key investor risks.
What just happened
New Delhi Television (NDTV) has released its financial results for the quarter ending September 30, 2026, showing a revenue of Rs 129.47 crore, up from Rs 122.27 crore in Q2 FY26. The net loss for the quarter narrowed to Rs 63.51 crore, compared to a loss of Rs 74.01 crore in the previous year. Simultaneously, the Board of Directors approved a major fundraising initiative to issue unsecured, non-convertible perpetual debentures worth up to Rs 800 crore on a private placement basis.
Why this matters
The fundraising via perpetual debentures indicates a strategic move to manage capital requirements without diluting equity. These instruments are perpetual, meaning they have no fixed maturity date, and carry a 9% cumulative coupon. However, the interest payments remain at the Board’s discretion. The capital is expected to provide liquidity support for the company as it works to stabilize its bottom line.
Risks to watch
Investors should closely track the company's path to profitability, as the H1 FY27 net loss stands at Rs 145.39 crore. The 9% coupon on the new debentures represents a long-term financial obligation that could impact cash flows. Furthermore, the company continues to manage ongoing legal and regulatory proceedings, including matters involving SEBI and the CBI, which remain significant variables for the stock's future performance.
Context metrics
Consolidated revenue for the first half (H1 FY27) was reported at Rs 246.70 crore compared to Rs 229.92 crore in H1 FY26. The auditor, S.N. Dhawan & Co. LLP, flagged matters related to certain joint ventures that were previously impaired, though management has clarified these are not material to current consolidated results.
What to track next
Shareholders should monitor the utilization of the Rs 800 crore proceeds and any progress in reducing operational losses in the coming quarters.