NDTV Group’s digital business reported profits of Rs 20 crore on revenues of Rs 144 crores for the quarter ended 31st March 2018 (Q4 FY18). Last year in the same quarter, profit stood at Rs 8 crore on the revenues of Rs 37 crore. EBITDA was Rs 40 crore, 7% higher over last year.
The media company said in its release that NDTV Convergence now clocks 150 million unique visitors a month. Last year, NDTV.com website had over 120 million unique monthly visitors.
Overall, the NDTV Group posted revenues of Rs 78.2 crore, down 31.6% from Rs 114.4 crore in same quarter last year. It posted a net loss of Rs 14.8 crore for the quarter. Last year in the same period company posted a net profit after tax of Rs 6 crore.
NDTV said that it reduced its operating expense in Q4’2018 by Rs 15 crores versus Q3’2018 (excluding one-time expenses of Rs 18 crores) on account of rationalization of people, facilities and functions. 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.
It reported 40 million monthly unique visitors and claimed that transactional business continues to be profitable.
E-commerce losses continue
NDTV’s E-commerce wing continued to make losses. It reported revenues of Rs 7 crore, up from Rs 3.5 crore last year, and losses of Rs 5.8 crore. Last year, for the same quarter, the segment had reported losses of Rs 4.2 crore.
NDTV’s e-commerce platform Hotdeals360.com registered a growth of 600% between Q3 and Q4, FY18 in average daily sessions, it said in its release.
Pricee.com, a new app and website, which went live in January this year, offers real-time prices of about 20 crore products across 800 categories. The company said that it is the only product search engine that allows voice search across devices like Amazon Echo and Google Home, and that it is working with e-commerce websites for monetization opportunities on this platform
NDTV said that the platform clocked 11 million monthly unique visitors. Note that Autobyte has picked up controlling stake in CarAndBike.com.
TV and related business
The Group’s TV and allied businesses reported losses of Rs 5.3 crore on revenues of Rs 104 crores for the quarter. Revenues were down from Rs 143 crore last year, and profit in Q4FY17 stood Rs 23 crore.