NDTV posts consolidated net profit of Rs 15.2 cr in Q1
MUMBAI: News broadcaster NDTV has posted a consolidated net profit of Rs 15.2 crore for the quarter ended 30th June as against a net loss of Rs 10.09 crore in the corresponding quarter of the previous fiscal. This is NDTV’s best quarter in six years on a consolidated basis.
The company’s revenue from operations rose to Rs 109.6 crore compared to Rs 99.43 crore in the previous fiscal. Expenses dropped to Rs 93.9 crore as against Rs 102.5 crore.
For the first time in its history, NDTV’s television business is recording five consecutive profitable quarters. The company’s television business has earned a profit of Rs. 9 crore compared to a net profit of Rs 87 lakh in the previous fiscal.
NDTV’s revenue from operations on standalone basis jumped to Rs 69.81 crore compared to Rs 68.23 crore in the previous fiscal. Expenses saw a sharp decline to Rs 63.9 crore from Rs 71 crore.
In a statement, the company said it continues to maximise resource efficiency with operating costs reduced by 9% over the first quarter of last year.
NDTV Convergence, the digital branch of the company, has recorded its highest-ever revenue in this quarter; its EBITDA of 30%is an improvement over the last years. On the day that the results of the general election were announced, NDTV Convergence had 16.5 billion hits.
In terms of segment, the operating profit from television media and related operations jumped to Rs 27.64 crore compared to Rs 10.45 crore. The revenue from the segment jumped to Rs 108.9 crore compared to Rs 97.72 crore.
The operating loss from retail/e-commerce narrowed to Rs 1.05 crore from Rs 4.71 crore. Revenue also shrank to Rs 1.65 crore from Rs 3.69 crore.