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NDTV India turns profitable, posts Rs 7-cr profit in Q4
MUMBAI: NDTV Group’s Hindi news channel NDTV India, which claims to be the only non-tabloid Hindi news channel in India, has turned profitable, posting a profit of Rs 7 crore in the exit quarter of fiscal 2017.
NDTV Group, which has TV broadcasting as well as digital and e-commerce businesses, also turned around in the quarter ended 31 March 2017, posting a consolidated net profit of Rs 5 crore compared to a loss of Rs 1 crore in the year-ago period.
The profitability is due to aggressive cost cutting by the company. NDTV Group’s costs due to strategic initiatives went down significantly by 17% to Rs 137 crore in the fiscal fourth quarter from Rs 164 crore a year ago.
EBITDA increased 1.8 times to Rs 23.7 crore in the quarter ended 31 March 2017 from Rs 8.3 crore in the same quarter the previous year.
The company’s consolidated revenue from operations fell 10% to Rs 154.35 crore from Rs 169.74 crore.
Q4 standalone performance
NDTV’s standalone net profit from its TV news broadcasting business stood at Rs 3.61 crore, which is almost half of Rs 7.6 crore recorded a year ago.
Revenue from operations fell to Rs 110.7 crore in the quarter ended 31 March 2017 compared to Rs 132.33 crore a year ago.
Expenses decreased to Rs 109.5 crore from 126.4 crore in the earlier year.
Full-fiscal standalone performance
Full-year standalone net loss widened to Rs 53.35 crore from Rs 21.62 crore in FY16.
Revenue from operations fell to Rs 381.73 crore from Rs 428.7 crore while expenses dropped to Rs 433.3 crore compared to Rs 455.2 crore a year ago.
Full-fiscal consolidated performance
For the full fiscal, NDTV’s consolidated net loss widened to Rs 68.79 crore from Rs 54.82 crore a year ago.
Revenue declined to Rs 522.67 crore from Rs 565.76 crore even as expenses shrank to Rs 593 crore from Rs 645 crore.
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Net profit fell to nil from Rs 5 crore in the previous fiscal year. EBITDA fell 21.42% to Rs 11 crore from Rs 14 crore in the year-ago period.
Revenue was down 14.09% to Rs 128 crore from Rs 149 crore in the previous year. Expenses declined 24.13% by 13.33% to Rs 117 crore from Rs 135 crore.
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NDTV’s digital arm, NDTV Convergence, posted 100% jump in net profit to Rs 8 crore for the fourth quarter compared to Rs 4 crore a year ago.
Revenue remained flat at Rs 37 crore while expenses declined to Rs 22 crore from Rs 29 crore.
NDTV.com now boasts 120 million unique visitors and page views exceeding 1 billion each month.
Gadgets360.com, which is housed under Red Pixels Ventures, reached operational break-even (after tax in its first full year of operation before one-off expenses).
Gadgets360 continues to be the dominant player in gadget news and reviews, with more than twice the unique users than its nearest competitor.
The company narrowed the net loss from e-commerce by 71.42% to Rs 4 crore from Rs 14 crore. Revenue doubled to Rs 4 crore while expenses fell 53% to Rs 8 crore.