As per report, NDTV’s current liabilities exceed its current assets by Rs 88.92 crore; these conditions, along with other conditions cast a significant doubt on the ability of the company to continue as a going concern.
The report said: "We draw attention to Note I of the statement' wherein it is explained that company, which runs television business, has incurred a net loss of RS 10.16 crores (Rs 1,016 lakhs) and Rs 1.17 crores (Rs. 117 lakhs) during the quarter and six months period ended 30 September 2019: and, as of that date, the company's current liabilities-exceed its current assets' by Rs 88.92 crores (Rs 8,892 lakhs)."
It added: "Management has said that the company has initiated certain strategic and operational measures to mitigate the uncertainty. Accordingly, they have prepared the statement on a going concern basis. Our conclusion is not modified in respect of this matter."
Auditors have reviewed the statement of unaudited results for the quarter ended 30 September 2019 and year to date results of the period from 1 April to 30 September 2019.
As per NDTV, it has declared a loss of Rs 10.27 crores. Of this, a loss of Rs 10.16 crores were from the television operations mainly due to a fall of advertising revenues, a challenging environment arid the slowdown in the overall economy.
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