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NDTV standalone net loss zooms 35% amid revenue de-growth
MUMBAI: TV news broadcaster NDTV’s standalone net loss has jumped 35% to Rs 17.92 crore for the quarter ended 30 September as against Rs 13.29 crore in the corresponding quarter of the previous fiscal.
Revenue from operations has fallen 22.18% to Rs 70.58 crore from Rs 90.7 crore. Total income was at Rs 73.57 crore 21.13% less than Rs 93.29 crore in the previous fiscal.
Expenses fell 14% to Rs 91.45 crore from Rs 106.42 crore in the year-ago period. Production expenses and cost of services almost halved to Rs 11.57 crore from Rs 21.62 crore. Marketing, distribution and promotional expenses fell to Rs 15.34 crore from Rs 16.17 crore.
The standalone result includes financials for the TV news broadcasting and allied business while the consolidated result includes TV, digital, and e-commerce.
On a consolidated basis, the net loss saw a marginal 1% increase to Rs 23.14 crore from Rs 22.91 crore in the year-ago period. Total income fell 12.09% to Rs 103.9 crore compared to Rs 118.2 crore. Expenses fell 10.04% to Rs 124.5 crore from Rs 138.4 crore.
In terms of segments, the net profit from digital grew 40% to Rs 7 crore from Rs 5 crore. EBITDA jumped 20% to Rs 12 crore from Rs 10 crore. Revenue jumped 13.33% to Rs 34 crore from Rs 30 crore while expenses increased 10% to Rs 22 crore from Rs 20 crore.
The company said that NDTV Convergence, which houses the digital business, is now tracking nearly 150 million unique visitors per month up by 62% on a YoY basis. Mobile phone traffic has doubled since last year. Video views across platforms have crossed 100 million views per month.
NDTV narrowed its net loss from e-commerce to Rs 1 crore from Rs 4 crore. EBITDA loss narrowed to Rs 1 crore from Rs 3.5 crore. Revenue stood at Rs 4 crore compared to Rs 3 crore. Expenses fell to Rs 5 crore from Rs 7 crore.
It said that Gadgets360.com is now the 11th biggest tech site in the world, placing it in the same class as TechCrunch, Engadget, The Verge and Wired. Gadgets360.com’s audience in India is more than double that of its nearest competitor. NDTV cars and bikes website now has over 10 million unique visitors, making it the country’s fastest-growing site in this genre.