NDTV turns profitable in Q3 on back of digital gains and cost tightening

MUMBAI: News broadcaster New Delhi Television Ltd (NDTV) has turned profitable in the fiscal-third quarter due to gains from digitisation and internal cost controls.

The company posted a small profit in the three-month period ended 31 December against a loss a year earlier, as cost reduction outstripped fall in income.

NDTV earned a profit of Rs 23 million in the third quarter ended against a net loss of Rs 23.9 million a year ago.

NDTV?s total income from operations in the third quarter was Rs 967.7 million, down 4.9 per cent from Rs 1.07 billion a year earlier. Its total expenses for the third quarter fell 8.13 per cent to Rs 912 million from Rs 992.7 million a year earlier.

The news broadcaster cut sharply expenses in marketing, distribution and promotions. The broadcaster spent Rs 160.4 million on marketing, distribution and promotions in the third quarter, down 41.91 per cent to Rs 276.1 million a year earlier.

For the nine months ended 31 December, NDTV?s net loss widened significantly to Rs 356.7 million from Rs 32.8 million a year earlier, while total income for the period was Rs 2.58 billion, 7.8 per cent lower than Rs 2.79 billion a year earlier.

On a consolidated basis, NDTV reported a profit of Rs 148.7 million in the third quarter against a loss of Rs 60.5 million a year earlier. Its total income for the third quarter was flat at Rs 1.3 billion compared with Rs 1.27 billion a year earlier.

In a statement, NDTV said ?Profit this quarter is a result of gains from digitisation and internal cost controls.?

A buoyant NDTV CEO Vikram Chandra said, ?Yes, it?s been a good quarter. It comes on the back of cost rationalisation and by streamlining the business. Also, the benefits of digitisation are starting to flow.?

Latest Reads
iTV Foundation organizes free day-long health camp in Karnal

Haryana Chief Minister Manohar Lal Khattar on Monday inaugurated iTV network foundation's free health camp which was held in Karnal, Haryana and lauded the initiative taken by the group. Speaking at the event, Manohar Lal Khattar said that their objective is to increase the number of doctors in the...

Television TV Channels News Broadcasting
Viacom18 dials up its kid’s ecosystem - extends the KidZania association to Mumbai

Viacom18, India’s fastest growing media & entertainment network is all set to extend its association with KidZania to Mumbai.

Television TV Channels Kids
Rajiv Mathrani joins Star Sports as chief marketing officer

Star Sports has appointed Rajiv Mathrani as its new chief marketing officer (CMO), a source close to the development has confirmed to

Television TV Channels Sports
IBF rejigs board; appoints VPs to steer key objectives

The board of directors of the Indian Broadcasting Foundation (IBF) has unanimously appointed Siddharth Jain, Rajat Sharma, Sudhanshu Vats and K Madhavan as the vice-presidents to broadbase and liaise with the government and other stakeholders for the sectoral growth.

Television TV Channels People
News18 launches Google Progressive Web Apps in Hindi and Bengali

News18, India’s leading destination for news with more than 100 million active viewers per month, has worked with the Google team in India to launch Progressive Web Apps (PWAs) in Hindi and Bengali.

Television TV Channels News Broadcasting
MTV beats is the fastest growing hindi music channel since launch

It is no secret that Indians love their Movies and Music. Hence, MTV Beats is stepping up the festive tempo with the launch of an array of differentiated content offerings as well as unique consumer led properties that the category hasn’t experienced before!

Television TV Channels Music and Youth
Essel’s Subhash Chandra on Zee, OTT giants & the Jio juggernaut

Zee Entertainment Enterprises (Zee) has withheld challenges from international broadcasters to acquire a place as one of the top media companies in India. While several players with deep pockets are investing a high amount in content, Essel Group chairman Subhash Chandra, with 26 years of...

Television TV Channels People
Star raises concern with ACC over revenue regeneration for Asia Cup; BCCI responds

Star has expressed displeasure on Virat Kohli’s absence from the Asia Cup and had asked Asian Cricket Council (ACC) to get in touch with the BCCI, according to a report by Press Trust of India.

Television TV Channels Sports
Synamedia sets out corporate vision, strategy and investment focus

Synamedia, the new company that will be formed from the sale of Cisco’s video processing and video solutions business to private equity firm Permira funds today revealed its vision and investment focus as an independent entity.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories