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NDTV group posts Rs 17.6 crore profit in Q2.

This marks a turnaround in profitability of Rs 28 crores.

KOLKATA: The  Prannoy and Radhika Roy-led NDTV group has posted Rs 17.6 crore profit for the quarter ended 30 September 2020. This marks a turnaround in profitability of Rs 28 crores over the same quarter last year, when the company had reported a consolidated loss of Rs 10.5 crore.

According to a regulatory filing, the group’s broadcast company NDTV Ltd has earned a profit of Rs 5.3 crores, which is a turnaround of Rs 15.5 crores over the same quarter last year. NDTV has stated this is the best H1 (first half of financial year) result for the television group in its history.  

Despite the slowdown of the economy with the onset of the pandemic, the group has reduced its bank borrowings by Rs 22 crores since the start of this financial year.

NDTV Convergence, the digital arm of the group, has improved its revenue by a record 31 per cent over last year and its EBITDA is at an all-time high of 39 per cent.

“NDTV is very proud of and grateful for the whole-hearted support extended to it by all employees, many of whom took a pay cut in the first half of the financial year. The management of the group continues to focus on shoring against any impact of the pandemic which could play out over the rest of the financial year,” the company stated.

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