NDTV posts standalone net profit for second quarter in a row
MUMBAI: News broadcaster NDTV has posted a standalone net profit for the second quarter in a row. The company has posted a net profit of Rs 19 lakh for the quarter ended 30 September compared to a net loss of Rs 17.92 crore in the same period last year. In the trailing quarter, the company had posted a net profit of Rs 60 lakh.
The broadcast operations have declared an operating profit is Rs 6.32 crore as compared to an operating loss of Rs 9.12 crore for the same time last year. The company said that the strong operating profits in both companies make this the best second quarter for them in 14 years.
The revenue from operations declined to Rs 59.49 crore compared to Rs 70.53 crore in the previous fiscal. Expenses saw a significant reduction at Rs 62.55 crore from Rs 89.78 crore.
NDTV turned profitable on the consolidated level as well with a net profit of Rs 59 lakh as against a net loss of Rs 23.14 crore. The NDTV Group EBITDA is Rs 11.70 crore, a turnaround of Rs 21.49 crore YoY. EBIDTA losses for the same quarter last year were Rs 9.79 crore.
The company’s revenue from operations declined to Rs 93.4 crore from Rs 102 crore. Expenses declined to Rs 98.6 crore from Rs 122.8 crore.
The news broadcaster posted an operating profit of Rs 13.92 crore from the core TV business compared to an operating loss of Rs 4.85 crore. Revenue from the segment declined to Rs 92 crore from Rs 99.75 crore.
The operating loss from the e-commerce segment narrowed to Rs 5.4 crore from Rs 8.93 crore. Revenue almost stayed flat at Rs 3.69 crore compared to Rs 3.5 crore.
Meanwhile, NDTV CFO Ravi Asawa has resigned. Asawa will serve a notice period of three months. The company will inform the exchanges of his last working day.