NDTV Group’s digital business clocked in revenues of Rs 37 crores with Profit After Tax (PAT) of Rs 4 crores in Q1FY19. In the financial year ended 2017-18, the digital arm earned a revenue of Rs 144 crores and a record PAT of Rs 20 crore. Overall profits of the group amounted to Rs 60 lakh, an improvement from a loss of Rs 14 crores QoQ and Rs 16 crores YoY.
NDTV culled spending by 22% to Rs 70 crore this quarter compared to Rs 90 crore in the corresponding quarter of 2017. It had reduced operating costs by 24% percent YoY from Rs 84 crores to Rs 64 crores.
NDTV Convergence saw a 50% rise in traffic with 200 million unique visitors in this quarter, up from 150 million unique visitors a month in Q4-FY2018. In 2017, NDTV.com had over 120 million unique monthly visitors.
Cost cutting to move to mobile journalism
In the quarter ending December 2017, NDTV had said that its cost has been reduced from Rs 124 crore to Rs 105 crore YoY, largely enabled by its shift to mobile journalism. That year, NDTV said that it would be considering reducing its workforce by 25% as a part of its turnaround plan for profitability. It would only be focusing on its core businesses — English and Hindi news channels, NDTV Convergence and the digital teams associated with running the news websites and apps. The company added that a part of the plan was implemented when around 70 staffers were laid off in June 2017 as part of its pivot to mobile journalism. It was reported that camerapersons and supporting staff were laid off as part of the effort.
NDTV’s revenues from e-commerce and retail fell 48% QoQ, standing at Rs 3.9 crores this quarter as compared to Rs 7 crores last quarter. Losses in the segment, however, reduced to Rs 4.7 crores this quarter from Rs 9.6 crores same quarter last year, reducing by 51% YoY and 18% QoQ.
- The group claims over 12 million unique visitors on its food website NDTV Food.
- NDTV Convergence has launched vernacular content with Bengali and Tamil sites.