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NxtDigital reports revenue of Rs 548.9 crore in H1 FY23
Mumbai: Hinduja Group’s NxtDigital has reported consolidated half-yearly financial results for the fiscal ended 30 September 2022.
In comparison to the previous fiscal’s equivalent half-year revenue of Rs 543.2 crore, revenue of Rs 548.9 crore has been generated.
Profits before interest, depreciation, and taxes (Ebitda) increased to Rs 109.3 crore from Rs 102.9 crore in the same period of the previous year.
For the quarter ended 30 September, the company has improved its Ebitda performance to Rs 55.26 crore as against Rs 51.64 crore recorded the previous year and Rs 54.09 crore for the immediately preceding quarter of the current year.
Due to the company’s continued focus on new growth drivers, all of its media and communications platforms, including its digital television and broadband verticals, experienced stability in the second quarter.
Last month, it introduced its 100th honourable NXTHUB, giving users seamless access to broadband, digital television, and OTT content.
Based on a legally binding MoU with Thaicom, one of the top satellite operators in the world, and following extensive and fruitful testing, NxtDigital is soon to introduce broadband-over-satellite services. In addition to public WiFi and drones to improve rural digital solutions and space-based data technologies for agriculture and resource management, this will be the first step of providing satellite AI solutions.
The organisation has also concentrated on creating digital solutions based on market dynamics throughout this quarter. It will soon introduce ONEDigital, a one-of-a-kind and cutting-edge all-in-one service that provides consumers with access to the internet, digital television, OTT, public and building WIFI, CCTV systems, and voice over IP/intercom. The company has also created the digital content aggregator app NXTPLAY, which is ready for release and offers over 3,00,000 hours of content from top international and regional OTT networks.
It has started its ambitious project, NXT Sangram, with the goal of training over 10,000 of its last mile owners or franchisees to make the paradigm shift and become digital services partners, capable of meeting all the digital needs of their communities, in line with these initiatives and building out a digital ecosystem on a national scale.
NxtDigital MD & CEO Vynsley Fernandes said, “We have remained committed this fiscal to developing solutions to drive growth, based on the dynamic environment and changing consumer preferences. Those focused efforts and technological innovations will now take centre stage as we look to shortly roll out our broadband-over-satellite services, our digital content aggregator app NXTPLAY and ONEDigital, an integrated all-in-one solution that defines true digital convergence. Our ecosystem too has been upgraded in line with delivering solutions for digital communities.”
The draft scheme of arrangement between NxtDigital, Hinduja Global Solutions, and their respective shareholders has been approved, among other things, by the board of directors of the company. Minority shareholders strongly approved the scheme, with 99.99 per cent of them voting in favour of it at the extraordinary general meeting of shareholders held on 2 September to approve the scheme of arrangement between the company and Hinduja Global Solutions. On 13 October, the NCLT will have its last hearing.
In the second corporate action, the company’s board of directors approved the proposed scheme of arrangement between NxtDigital and Hinduja Leyland Finance (HLFL) and their respective shareholders, subject to regulatory and shareholder approvals, for the merger of HLFL with the company. The share exchange ratio for the proposed transfer was also approved by the board. The company is working to get all the required legal, regulatory, and other clearances for the deal.
eNews
Piyush Thakur steps down as Inshorts’ chief revenue officer
Former vice president and cro says exit marks a new chapter after close to a decade of building revenue and partnerships at Inshorts Group.
NOIDA: Piyush Thakur has stepped away from Inshorts Group after nearly 10 years with the company, marking the end of a long tenure that culminated in his role as chief revenue officer.
In a farewell note, Thakur said he was “turning a new page” after almost a decade at Inshorts, calling it one of the hardest professional decisions he has made. He added that his exit was not driven by uncertainty about the future, but by reflection on a long association with the company.
Thakur joined Inshorts in October 2016 as vice president and spent around seven years in the role before being elevated to chief revenue officer in April 2024, a position he held until April 2026.
He said his tenure was defined by “thousands of mornings, late nights, product debates and breakthrough moments”, as the company evolved into a large-scale digital news platform used by millions.
In his note, Thakur emphasised that Inshorts’ growth was a collective effort across teams, adding that engineers, designers, sales teams and customer support staff all contributed to building the platform. He said the company’s success was not the result of individuals but of “everyone who stayed, passed through, and left their mark”.
Before Inshorts, Thakur worked across several digital media and business development roles. At ESPN, he served as senior regional manager from October 2015 to October 2016, focusing on growth initiatives, strategic opportunities and video distribution.
At Times Internet, he worked for nearly three years, including as head of business development from April 2015 to September 2015 and chief manager from January 2013 to March 2015. His responsibilities included monetisation of mobile platforms, managing media and developer partnerships, and driving revenue across digital properties such as The Times of India and The Economic Times.
Earlier, he worked at Brandmovers as head of business development from June 2012 to June 2013, handling digital, mobile and social media marketing solutions, client development and strategic consulting. During this period, he also worked on advertising revenue, brand strategy and CRM-based solutions.
At Inshorts, Thakur’s role focused on revenue strategy, mobile and media partnerships, and growth initiatives across platforms. His profile highlights experience in mobile product management, digital business models, partner ecosystems and revenue expansion in high-growth environments.
