NXTDIGITAL posts Rs 234.82 crore as revenues for Q1
On a consolidated basis, the company has recorded growth in revenues by 3.4% on a sequential basis over the previous quarter and 2.7% over the same quarter of the previous year
NXTDIGITAL has announced its results for the first quarter of the current financial year – a quarter that was significantly impacted by the Covid pandemic. Against this challenging backdrop, the company continued its growth story, with revenues for Q1 standing at Rs 234.82 crore.
On a consolidated basis, revenues grew by 3.4% on a sequential basis over the previous quarter and 2.7% over the same quarter of the previous year. The company posted an EBITDA of Rs.50.36 crore for the quarter; posting a growth of 99% on a sequential basis over the previous quarter and 2.6% on a year-on-year basis.
The company today stated that the company has not only been able to maintain its subscriber base but even grow its video and data businesses, in spite of the serious negative sentiments of the pandemic. The company has maintained its collection efficiency of over 99.5% under its prepaid collection model.
The Board has appointed Amar Chintopanth, Chief Financial Officer, as Whole Time Director and Chief Financial Officer and Key Managerial Person of the Company with immediate effect pursuant to provisions of Section 203 of the Companies Act, 2013.
Commenting on the Q1 performance, Vynsley Fernandes, Chief Executive Officer, NXTDIGITAL Ltd. said: “As an essential service providing critical video and data connectivity, it was and is imperative to step up and deliver uninterrupted services to customers whilst ensuring, without exception, the safety of our personnel, our partners and ecosystem. The performance in Q1 against the challenging backdrop is a reflection of those carefully thought out and implemented strategies, consistent innovation and the singular commitment to our customer base.”
