NDTV posts standalone net profit of Rs 8.04 cr in Q4
MUMBAI: NDTV has posted a standalone net profit of Rs 8.04 crore during the quarter ended 31st March as against a net loss of Rs 14.51 crore in the corresponding quarter of the previous fiscal.
Revenue from operations jumped to Rs 63 crore from Rs 75.31 crore in the year ago period. Total expenses saw a significant drop at Rs 63.39 crore from Rs 93.2 crore.
For the full fiscal, the company has posted a net profit of Rs 13.32 crore compared to a net loss of Rs 61.43 crore. Revenue dropped to Rs 251.5 crore from Rs 298.5 crore. Expenses shrank to Rs 256.9 crore from Rs 361.1 crore.
On a consolidated basis, the company posted a net profit of Rs 13.18 crore compared to a net loss of Rs 18.15 crore in the same quarter of the previous fiscal. Revenue from operations dropped to Rs 102.2 crore from Rs 105.6 crore. Expenses fell to Rs 95.21 crore from Rs 128 crore.
The company posted a consolidated net profit of Rs 11.36 crore from Rs 84.35 crore. Revenue from operations declined to Rs 398.5 crore from Rs 425.6 crore in the previous fiscal. Expenses dropped to Rs 398.1 crore from Rs 501.4 crore.
Meanwhile, the company has stated that the NDTV Group has closed the financial year 2018-19 with a massive turnaround of Rs. 90.2 crore to declare a profit of Rs. 10.2 crore – one of its strongest performances ever. Last year, it declared a loss of Rs. 80 crore.
Its broadcast company, NDTV is declaring its best results in 14 years with a profit of Rs. 13.3 crore. Last year, the broadcast company had losses of Rs. 61.4 crore. This is the Group’s best performance in nine years.
At the group level, NDTV has registered a profit of Rs. 32.6 crore before tax, exceptional items and its share of losses in the associate or joint ventures as against a loss of Rs. 61.7 crore for last year. The group’s operating costs are down by Rs. 113.1 crore over the last year.
NDTV Convergence, the Group’s digital company, has clocked its best Q4 ever for revenue; Convergence remains highly profitable, and its traffic is growing steadily over its already huge base.