Owing to rising costs and slow down of advertising revenues, UTV Software Communications has announced cut in costs in its broadcasting operations. The company has consolidated its operations for four television channels - UTV Movies, World Movies, Bindass and Bindass Movies - by phasing out its Delhi operations. 

UTV ran two channels from Delhi and the other two from Mumbai.

The company has also cut its total investment by over 2 billion rupees to ensure total future investment does not exceed 1 billion rupees. Disney and UTV have already made an initial investment of 3.6 billion rupees. 

In August, Walt Disney Co acquired 15 percent stake in UTV Global Broadcasting for 1.18 billion rupees, while UTV Software bought 75 percent stake for 2.4 billion rupees. 

The company's gaming, new media and TV content business is on track as projected at the beginning of this year. 

Shares of UTV closed Monday at Rs 273.45, down 5.61 per cent from the previous close, on the BSE.