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NDTV’s retail and e-commerce revenues at Rs 3.7 Cr, group profit at Rs 59 lakh in Q2FY19

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NDTV Group’s retail and e-commerce segment clocked in revenues of Rs 3.7 crores with Loss After Tax of Rs 5.4 crores in Q2FY19. In the last quarter, the segment earned the same revenue (Rs 3.7 crore) and recorded loss of Rs 4.7 crore.

  • Broadcast business: Profit after Tax (PAT) stands at Rs 19 lakh, a massive improvement from a loss of Rs 18 crores in the same quarter last year. However, PAT did fall by 68% from Rs 60 lakh last quarter.
  • Consolidated NDTV group: Profit after Tax (PAT) stands at Rs 59 lakh, an improvement from a loss of Rs 23 crore the same quarter last year, and from Rs 10.7 crore last quarter.

Expenses: NDTV culled spending by 30% to Rs 62.5 crore this quarter compared to Rs 89.7 crore in the corresponding quarter of 2017. It reduced expenses by 11% from Rs 70 crores last quarter.

Operating costs for its broadcast business also reduced by Rs 26.27 crores YoY and by Rs 7.4 crores since the first quarter of this year.

NDTV said traffic for its Convergence business grew 45% year-over-year, although it did not disclose the number of unique visitors in the quarter. It saw 200 million unique visitors in the quarter ended June 30, 2018.

  • Last month, NDTV and Bharti Airtel launched a mobile-only vertical video channel NDTV HOP. The app features 20-minute live shows on Bollywood, news, fashion, entertainment, gadgets, astrology, careers, debunking fake news, yoga, online deals, among others. The app also has shows similar to those that feature on NDTV’s already existing channels such as Gadgets360 and Car and Bike.

Cost cutting to move to mobile journalism

In the quarter ending December 2017, NDTV 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.

Employee benefit expenses

Note that the company reduced employee benefits expenses of its broadcast business by 45% YoY from Rs 34 crore to Rs 18 crore this quarter.

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Financials | Press Release

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Corrigendum: We had mixed up the retail and e-commerce segment revenues with the digital business ones. We’ve corrected and updated the story to reflect the right revenues. We regret the error and apologise for it.

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