Television

NDTV posts 55 per cent profit in Q3, best quarterly results in 7 years

The broadcaster posted a consolidated profit of Rs 11.3 crore in Q3 FY20

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MUMBAI: New Delhi Television’s consolidated profit rose by 55 percent to Rs 11.3 in third quarter of the financial year of 2019-20 compared to Rs 7.3 crore in the corresponding quarter of the last financial year. The broadcaster posted best Q3 result in last seven years.

The group’s television business shows a turnaround of Rs 16.82 crore over the preceding quarter, said the broadcaster in filing to Bombay Stock Exchange. “The television business declared a profit of Rs 6.66 crore, which is its best Q3 in more than a decade.”

NDTV Convergence, the group’s digital company, posted 14th straight profitable quarter. NDTV Convergence being at the core of the group’s business operations, it remains a market leader in the online news space, the press statement said.

NDTV’s profit for the current financial year so far marked a turnaround of Rs 17.86 crore over the corresponding period for the last year. Moreover, the operating expenses for the group continue to contract, down by Rs 8.5 crore over the same period last financial year.

Meanwhile, NDTV Ltd’s profit increased by 49 per cent to Rs 6.7 crore in the third quarter of FY20 compared to Rs 4.5 crore in the same quarter of FY19. Whereas the revenue from operations of NDTV Ltd’s rose by 30.5 per cent to Rs 55 crore against Rs 42 crore in the corresponding quarter of FY19.

Despite profit, the group’s total income fell 7.8 per cent to Rs 98.29 crore during the quarter under review compared to Rs 106.59 crore in the corresponding quarter a year ago. Meanwhile, the total expenses also slumped 10.52 per cent to Rs 85.03 crore against Rs 95.03 crore in the Q3 FY19.

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