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NDTV’s losses widens to Rs 15.8Cr in Q3FY17; initiates steps to ‘rationalize costs’

NDTV’s posted a net loss of Rs 15.83 crore for the quarter ended December 2016 (Q3 FY17), which widened from Rs 7.4 crore loss in the same quarter last year. In the preceding quarter, the company reported losses of Rs 15.74 crore. NDTV added that losses widened during the quarter “due to a downturn in TV advertisement revenues in the current quarter post currency demonetization”.

The media group added that it has “initiated steps to rationalize costs and increased productivity with an aim to improve the overall efficiency of operations”. Note that when HT Media earlier initiated “cost-optimization”, it led to several employees being forced to resign their posts, while many were laid off in local editions. More on this here.

Overall income from NDTV’s operations stood at Rs 90.5 crore, down 15.8% from Rs 108.7 crore in the same quarter last year. On a sequential basis, total income decreased marginally from Rs 91.6 crore in Q2 FY17.

Segmented results

NDTV’s digital business segment (www.ndtv.com) posted an EBITDA profit of Rs 7 crore during the quarter, compared to Rs 2 crore profit in the same quarter last year. Revenues were up 25% Year-on-Year, although the company has not provided absolute numbers. The website garnered more than 90 million monthly unique visitors. Aggregate monthly page views (desktop+mobile) stood at 800 million during the quarter.

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E-commerce segment posted losses of Rs 4.29 crore for the quarter, down from Rs 6.5 crore losses in the same quarter last year. The segment generated revenues of Rs 3.76 crore, down 2.3% YoY from Rs 2.85 crore in Q3FY16, and up 17.5% QoQ from Rs 3.2 crore in the previous quarter. NDTV’s E-commerce segment includes portals like IndianRoots.in (which sells Indian ethnic wear), CarAndBike, BandBaajaa (wedding planning site), Mojarto(a marketplace for artisans) and Gadgets360 (which lists phones for sale).

Television and other related media operations generated Rs 129.53 crore during Q3FY17, accounting for a majority (97%) of NDTV’s revenues. The segment’s revenues were down 12.3% YoY from Rs 147.8 crore in Q3FY16, and up marginally from Rs 121.03 crore in the previous quarter. However, the segment posted losses of Rs 7.39 crore during the quarter, which widened from Rs 3.94 crore loss in the previous quarter.

Download: Financials | Press Release

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