NDTV reports consolidated rev of Rs 105.83 cr in Q3
Total expenses stood at Rs 82.4 crore compared to Rs 85.03 crore a year ago
News broadcaster NDTV's consolidated revenue from operations for the quarter ended 31st December is Rs 105.83 crore compared to Rs 93.67 crore in the same period last year.
Total expenses stood at Rs 82.4 crore compared to Rs 85.03 crore a year ago.
The company said that it has delivered the best third quarter results in the last 11 years with a net profit of Rs 22.69 crore compared to Rs 12.13 crore.
The company posted an operating profit of Rs 32.64 crore from the television media and related operations segment compared to Rs 19.09 crore.
Revenue from the segment was Rs 105.83 crore compared to Rs 92.23 crore.
The company reported nil revenue from the e-commerce/retail segment.
On a standalone basis, NDTV's revenue from operations stood at Rs 56.37 crore compared to Rs 55.35 crore.
The company’s expenses were Rs 51.56 crore compared to Rs 51.85 crore.
Net profit increased to Rs 10.53 crore compared to Rs 6.66 crore.
According to NDTV, this is the company's best quarterly result in the last eight years.
NDTV Convergence, the company's digital arm, has marked its best quarter ever with a profit of more than Rs 10 crore; its revenue has increased by 32% over the same quarter last year.
Despite the business challenges thrown up by the pandemic, the company has so far in this financial year reduced its bank borrowings by Rs 27 crore.
“NDTV thanks every member of its team for ensuring quality news was delivered to its vast audience despite the many impediments presented by the Coronavirus outbreak. Its reporters and crews have travelled all over the country to share the most credible and latest information on how India is handling the pandemic,” the company said in a statement.
It further stated that the management is aware that the financial challenges of an economic slowdown continue to linger, with advertising yet to recover to pre-Covid levels; it is focused on mitigating any risk presented by this for the next few quarters.
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