Media organisation NDTV Group reported a profit of Rs 20.3 crore in the quarter ending December 31, 2020, an increase of Rs 2.7 crore compared to the previous quarter. The group’s digital media business NDTV Convergence, the company’s digital arm which operates NDTV websites, reported a profit of more than Rs 10 crore. A press release from the company said that NDTV Convergence “marked its best quarter ever”. Its revenue increased by 32% compared to the same quarter last year.
The group’s broadcasting arm NDTV Limited posted a profit of Rs 10.6 crore, nearly double what it had reported in the previous quarter. This figure corresponds to a turnaround of Rs 3.9 crore over Q3 FY20. “Overall, this is the NDTV Group’s best quarterly result in the last eight years,” the company declared.
The group was able to reduce its bank borrowing by Rs 27 crore (this figure was Rs 22 crore at the end of the last quarter) despite the business environment during the COVID-19 pandemic. The company had had to announce pay cuts to employees in April 2020, which were gradually reversed over August to October 2020, according to a regulatory filing from last quarter.
NDTV Limited (Broadcasting arm):
- Revenue: Rs 55.37 crore (up 1.8% YoY, up 26.19% QoQ)
- Profit after tax: Rs 10.53 crore (up 58.10% YoY, up 97.16% QoQ)
NDTV Group (consolidated):
- Revenue: Rs 105.83 crore (up 12.88% YoY, up 12.16% QoQ)
- Profit after tax: Rs 22.69 crore (up 87% YoY, up 10.46% QoQ)
- Profit after tax (attributable to owners): Rs 20.32 crore