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NXTDigital posts strong Q2 results

The company has been able to maintain its subscriber base.

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NEW DELHI: NXTDigital has posted a year-on-year EBITDA growth of 15.8 per cent at Rs 50.7 crores for the second quarter, an improvement of 2.7 per cent over the previous quarter.

While revenues remained stable despite the impact of the Covid2019 pandemic, the company posted an EBIDTA of Rs 102.1 crores for the half year ended 30 September 2020, a growth of 8.7 per cent over the corresponding period of the previous year. By laying greater focus on operational efficiency rather than pure revenue growth at the cost of profitability, it was able to improve EBIDTA margins to 21.7 per cent for the half year, compared to 19.2 per cent in the corresponding period of the previous year.

NXTDigital has not only been able to maintain its subscriber base but grow its video and data businesses, in spite of the serious negative sentiments of the pandemic. The company has maintained its collection efficiency of over 99.5 per cent under its prepaid collection model.

The board has designated Vynsley Fernandes as media group chief executive officer of NXTDigital with oversight of all the media businesses of the group encompassing cable TV, HITS and broadband. He will be responsible for leading the overall business and operations of the group as it continues to expand across the media spectrum.

With NXTDigital being the only HITS platform in the country, it’s expected to get a boost from  the sharing of HITS infrastructure with other Multi-System Operators (MSOs) across the country, as recently notified by the ministry of information & broadcasting. The potential for infrastructure sharing or managed services stands at over 69 million cable TV households today – comprising smaller independent and regional MSOs.

NXTDigital CEO Vynsley Fernandes said “The focus in Q2 was to lay greater emphasis on operational efficiency, rather than pure revenue growth at the cost of profitability. Our strategy was to continue enhancing customer engagement whilst rolling out innovative solutions and driving cross-selling relentlessly. The result is manifested in our key performance indices – where not only has our EBIDTA grown both year-on-year and quarter-on-quarter; but has also seen growth in margins.”

Going forward, NXTDigital will continue to focus on consolidating and growing its serviced subscriber base, expected to cross 10 million; including onboarding of more than 5 million of managed services customers. It will also continue to drive cross-selling of digital video, broadband and value-added services whilst offering innovative bundled products and packages in diverse geographies.

The company will also roll out its NXTCONNECT device, which is a single device for customers to access live television channels, OTT content, social and other apps, games & much more, to commemorate the festival season. The launch will be coupled with the rollout of NXTGO, an innovative dongle-type device that can be plugged into an OTT set top box or an Android-based television and provide immediate access to live television channels securely. 

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