NEW DELHI TELEVISION LIMITED

Regd Office :

207,Okhla Industrial Estate, Phase-IIINew Delhi - 110020

(Rs. in Lacs except per share data)

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2008

Particulars

ABCDE

Sl No

Audited Audited Audited Audited Audited

1 Income from Operations 12,027 7,174 23,968 14,189 36,6132

Expenditure

a.Production Expenses 7,022 1,997 14,007 3,345 12,165b.Personnel Expenses 5,217 3,345 10,101 6,450 14,845c.Special employee bonus 55 64 55 851 906d.Marketing, Distribution & Promotional Expenses 5,795 1,537 11,514 2,718 12,560e.Operating & Administrative Expenses 4,286 1,895 7,827 3,231 9,924f. Depreciation 748 521 1,453 1,017 2,309Total Expenditure 23,123 9,359 44,957 17,612 52,709

3 (11,096) (2,185) (20,989) (3,423) (16,096)

4 Other Income 764 575 1,186 929 2,181

(10,332) (1,610) (19,803) (2,494) (13,915)

6 Interest Cost 1,296 579 2,311 784 2,419

(11,628) (2,189) (22,114) (3,278) (16,334)

8 Exceptional Items - - - - -

(11,628) (2,189) (22,114) (3,278) (16,334)

10 Cost of stock options 649 253 1,277 587 1,35011 - - 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(11,932) (2,408) 40,551 (3,900) (18,565)

14 Share of Minority Interest 6 26 (175) (5) (21)15 Share in Profit/(Loss) of Associate - (93) - (107) (313)

16(11,938) (2,527) 40,726 (4,002) (18,857)

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)

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)22Final Dividend (Rs. per share) 0.80Dividend percentage20%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 Shareholding36.77%46.73%36.77%46.73%39.05%

Notes :

Three Months EndedSept 30-08Three Months EndedSept 30-07Six Months Ended Sept30-08Six Months Ended Sept30-07Year EndedMarch 31-08

Profit/(Loss) From Operations Before Other Income,Interest & Exceptional Items(1-2)Profit/(Loss) Before Interest & Exceptional Items(3+4)Profit/(Loss) After Interest but before ExceptionalItems (5-6)Profit/(Loss) From Ordinary Activities Before Tax(7-8)

Amount arising on dilution of stake in a subsidiary (See Note -3 )

Net Profit/(Loss) From Ordinary Activities after TaxBefore Minority Interest and Share in Associate (9-10-11-12)Net Profit/(Loss) From Ordinary Activities After Tax(13-14-15)

Dividend per share (face value of Rs.4 per share)

1234 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 96 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

For and On Behalf of Directors

Place: New DelhiDate: October 14, 2008

Chairman

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 andSpecified 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 oneshare 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 andSpecified 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 requisiteapprovals.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 noqualification.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 thedirectors 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 thequarter, 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 toone of its directors. In respect of the remaining cases the Company has initiated the process for obtaining the requisite approvals.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 915,498shares 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%.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 endedSeptember 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.