NDTV’s broadcast biz reports net profit for third consecutive quarter
MUMBAI: News broadcaster NDTV has posted a consolidated net profit of Rs 7.3 crore for the quarter ended 31st December compared to a net loss of Rs 20 crore in the corresponding quarter of the previous fiscal. The consolidated business comprises of TV, digital and e-commerce.
On a standalone basis, the company has posted a net profit of Rs 4.5 crore compared to a net loss of Rs 7 crore a year ago. This is the best Q3 of the TV business in 11 years.
In this financial year, NDTV’s broadcast operations have delivered a profit in all three quarters so far which is a first in 14 years.
The company also noted that the scale of the turnaround has been significant. So far this year, NDTV’s broadcast operations have recorded a profit of Rs 5.5 crore compared to a loss of Rs 48 crore for the same period last year.
For the Group, the turnaround for the year so far is Rs 63 crore. This is the group’s best Q3 in six years.
The company’s consolidated operating revenue has declined to Rs 102.5 crore compared to Rs 111.6 crore. The expenses have dropped to Rs 95.2 crore from Rs 123.2 crore.
The standalone operating revenue dropped to Rs 60.8 crore from Rs 80.1 crore. The total expenses have dropped to Rs 59.7 crore as against Rs 88.6 crore.
Operating costs for the broadcast company have been cut by Rs 28 crore YoY (Year-On-Year) and by Rs 11 crore since the first quarter of this year.
NDTV Convergence, the company’s digital arm, has, for the first time, earned more than Rs 40 crore in one quarter. In December, the company disclosed that it has signed a record five— year advertising deal worth more than 300 crores with native advertising platform Taboola.
NDTV Hop, the world’s first live channel for mobile phones (shot and streamed entirely in vertical mode) which was launched in October, crossed 1 crore views in December, establishing Proof of Concept of the channel’s appeal among Gen Z users.