NDTV slips into loss in Q2 after five consecutive quarters of profit
MUMBAI: News broadcaster NDTV has slipped into losses after posting profit for five straight quarters. The company has reported a consolidated net loss of Rs 10.27 crore for the quarter ended 30th September as against a net profit of Rs 11.7 crore in the corresponding quarter of the previous fiscal.
Of this, a loss of Rs. 10.16 crore was from the television operations mainly due to a fall of advertising revenues, a challenging environment amid the slowdown in the overall economy.
The company’s revenue from operations slipped to Rs 77.22 crore compared to Rs 93.48 crore in the previous fiscal. Expenses narrowed to Rs 87.57 crore compared to Rs 98.65 crore.
Exployee benefit expenses dropped to Rs 28.91 crore compared to Rs 36.49 crore. The company stated that it continues to maximise resource efficiency with operating costs reduced by 13% over the last year at NDTV and NDTV group level.
NDTV‘s television media and related operations posted an operating loss of Rs 1.25 crore compared to an operating profit of Rs 13.92 crore. Revenue from the segment saw a sharp decline at Rs 75.81 crore compared to Rs 92 crore in the previous fiscal.
Operating loss from the retail/e-commerce segment narrowed to Rs 66 lakh from Rs 5.4 crore. Revenue also fell to Rs 1.87 crore compared to Rs 3.69 crore.
NDTV Convergence, the digital branch of the company which includes ndtv.com, recorded yet another profitable quarter with an EBIDTA of 18%. With over 300 million video views across platforms, this has shown a significant increase.
The company stated that the group’s focus continues to be on increasing and growing its digital business. The company’s flagship website ndtv.com continues to grow and is now in the top 20 news websites of the world, ahead of the Washington Post, Buzzfeed and other Indian websites.
It noted that the will put an even greater emphasis on digital with increased integration and richer content from its television operations.