Television

NDTV records best-ever Q1 with a profit of Rs 13.9 cr

The NDTV Group recorded a profit of Rs 16.56 crores

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Mumbai: The NDTV Group has reported over two-fold increase in consolidated net profit to Rs 16.56 crore for the first quarter ended 30 June, marking its best first quarter result in over a decade.

Its TV news channel-  NDTV Ltd raked in a profit of Rs 13.9 crores in Q1, along with NDTV Convergence, the digital arm of the Group, which has delivered an increase of 41 percent in revenue over the same time last year.

According to the regulatory filing, the company had posted a consolidated net profit of Rs 7.55 crore in the corresponding period of last fiscal. Its consolidated revenue from operations during April-June 2021 stood at Rs 85.02 crore as against Rs 72.73 crore in the year-ago period. Total expenses stood at Rs 77.92 crore, compared with Rs 64.64 crore a year ago, the company said. The Group’s total liabilities have been reduced by Rs 23 crores in this quarter; bank borrowings are down by Rs 8.7 crores.

“NDTV, with the support of each employee, has worked to mitigate any uncertainty caused by the impact of the pandemic on the economy and all businesses. It thanks its team for their superlative reporting and commitment to providing news as an essential service at this difficult time. Given the economic landscape, the Management will control expenses and focus all efforts on ensuring the Company’s financial position strengthens further,” it said in the filing.

The company also said that its board has appointed Grant Thornton Bharat LLP (formerly Grant Thornton India LLP) as its internal auditors for one year, with effect from 11 August.

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