NDTV Group posts Rs 67 crore as Q4 consolidated revenue
The company’s marketing, distribution and promotional expenses stand at Rs 9.9 crore
The NDTV Group has posted Rs 66.96 crore as consolidated revenue from operations for the quarter ended March 31, 2023. This is a decline of 35.49% when compared to Rs 103.8 crore posted for the same period last year.
The group also reported a decline of 95.5% in profit at Rs 1 crore against Rs 25.83 crore reported in the same quarter last year. Its marketing, distribution and promotional expenses have also dropped 10.49% to Rs 9.9 crore in Q4FY23 as against Rs 11.06 crore in Q4FY22.
In a press note, the group said it was declaring another profitable year despite the weak economic environment and slow down in global advertising spend.
The company also said that it has reduced external borrowings from Rs 9 crore last year to Rs 3 crore, as on March 31, 2023. The cash and cash equivalents were at Rs 103.6 crore compared to Rs 116.4 crore last year.
“The one-time expenses on account of severance pay and one-time write-off provisions have impacted the EBITDA margins by Rs. 4.80 crores. Also, on social media, NDTV’s following remains premium. NDTV is the most-popular news handle on Twitter with 17.7+ million followers. NDTV channels on YouTube have nearly 29 million subscribers,” the group said.
On December 30, 2022, AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR Holding Private Limited, acquired a 27.26% stake in NDTV, resulting in a controlling stake of 64.71% in NDTV by AMNL through its subsidiaries.
Gautam Adani, Founder and Chairman of the Adani Group had said, “The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organization.”
Sanjay Pugalia, CEO, AMG Media Networks Ltd. had said, “One of the first things we plan to do is to strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform. To grow NDTV’s digital reach via greater global content, new formats, personalization and interactivity with viewers would require more reporters, producers and editors supported by strong research tools. We will deliver news that really adds value to the lives of Indian citizens and those interested in India.”
“With the aforesaid objective in mind, the new Management and Board are taking steps to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth and scale-up its presence across segments,” the company said in the official statement.
