NDTV’s revenues for the digital business was up 23% year-on-year (YoY), although the company has not provided any further details for its digital business, unlike previous quarters. Last year in the same quarter, revenues from its digital biz stood at Rs 34 crore.
The company also did not share NDTV Convergence’s unique visitors per month or mobile traffic. Last quarter, it said that it was tracking nearly 150 million unique visitors per month.
Overall, the NDTV Group posted revenues of Rs 80.6 crore, down 10% from Rs 89.5 crore in same quarter last year. It posted a net loss of Rs 13 crore for the quarter, which declined marginally from Rs 14 crore last year.
NDTV said that its cost has been reduced from Rs 124 crore last year (Q3FY17) to Rs 105 crore this year (Q3FY18), enabled by its mobile journalism or MoJo as it likes to call. In December last year, NDTV said that it will be considering reduction of its workforce by 25% and hence layoffs as part of its turnaround plan for profitability and said that it will be only focusing on its core business – English and Hindi news channels, NDTV Convergence and the digital teams associated with running the news websites and apps.The company added that part of the plan was implemented when around 70 staffers were laid off in June 2017 as part of its focus to bring mobile journalism. It was reported that camerapersons and supporting staff were laid off as part of the effort.
There’s also no numbers on the financial performance of its gadgets vertical Gadgets360, which it had said had broken even at an operational level three quarters ago. It did not share the same details last quarter as well. However, for Q1FY18, NDTV had said that Gadgets360 had reported a Profit After Tax of Rs 73 lakh, with 35 million monthly unique visitors. This quarter, the company claims that Gadgets360 is three times of its nearest Indian competitor, and the 7th largest tech site in the world, as per SimilarWeb, it said in its release.
E-commerce losses continue
NDTV’s E-commerce wing continued to make losses. It reported revenues of Rs 4.5 crore, up from Rs 3.8 crore last year, and losses of Rs 9.5 crore. Last year, for the same quarter, the segment had reported losses of Rs 15 crore.
NDTV did not share any numbers on this, but said in its press statement that its the third largest auto website. Source of the same claim is unknown. Note that Autobyte is has picked up controlling stake in CarAndBike.com.
The Group’s TV and allied businesses recovered from losses and reported profit of Rs 7.54 crores on revenues of Rs 110 crores. Revenues were slightly down from Rs 118.2 crores last year, and losses in Q3FY17 stood Rs 4.2 crore.