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.”

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