Report on Shemaroo

NDTV reports profit post divestments and cost rationalisation

The company reported consolidated PAT of Rs 11.36 crore for FY 2019

BENGALURU: The Prannoy Roy and Radhika Roy-headed New Delhi Television Ltd -NDTV, reported profit after tax (PAT) for the year ended 31 March 2019 (FY 2019, year or period under review) of Rs 11.36 crore as compared to a loss of Rs 84.35 crore in the previous fiscal (FY 2018). The company says that in its financial reports that it continues to pursue various options like rationalising costs, negotiating extended credit terms, divestment of non-core businesses and building efficiency in its collections. NDTV reported total comprehensive income of Rs 9.53 crore for the year under review as compared to a total comprehensive loss of Rs 88.21 crore in FY 2018. EBITDA including other income for FY 2019 was Rs 72.74 crore (17 percent of total income) as compared to an operating loss (negative EBITDA including other income) of Rs 25.57 crore in the previous fiscal.

NDTV has two segments – television and related operations (TV) and retail/ccommerce (E-comm) . Both the segments had improved results in FY 2019 as compared to FY 2018 despite lower total revenues.  TV segment had a 5.5 percent drop in total revenue in FY 2019 at Rs 392.13 crore as compared to Rs 415.05 crore in FY 2018. The segment had an operating profit of Rs 72.84 crore in the period under review as compared to an operating loss of Rs 7.08 crore in the previous year.

E-comm segment had a 36.2 percent drop in total revenue for FY 2019 at Rs 11.49 crore as compared to Rs 18.02 crore in the previous year. The segment had lower operating loss of Rs 12.52 crore in FY 2019 as compared to an operating loss of Rs 33.94 crore in FY 2018.

Let us look at the other numbers reported by the company

NDTV’s consolidated total revenue (operating revenue plus other revenue) for FY 2019 declined 3.5 percent to Rs 425.51 crore as compared to Rs 439.78 crore for the previous year. Operating revenue dropped by 6.4 percent in the period under review to Rs 398.50 crore as compared to Rs 425.64 crore for FY 2018.

Total expenses in FY 2019 reduced 21.8 percent y-o-y to Rs 391.88 crore (92.3 percent of total revenue) from Rs 501.43 crore (114 percent of total revenue).  The company has reduced most of the major expenses, however, amongst the major ones, finance costs increased 34.2 percent in FY 2019 to Rs 27.69 crore (6.5 percent of total revenue) from Rs 20.63 crore (4.7 percent of total revenue) crore during the previous year.

Employee benefit expense reduced 34.3 percent in FY 2019 to Rs 139.77 crore (32.9 percent of total revenue) from Rs 212.59 crore (48.3 percent of total revenue) in FY 2018. Operating and administrative cost in the period under review reduced 28.2 percent to Rs 76.84 crore (18.1 percent of total revenue) from Rs 106.98 crore (24.3 percent of total revenue) in FY 2018. Marketing distribution and promotional expenses in FY 2019 was 27.1 percent lower at Rs 45.31 crore (10.7 percent of total revenue) as compared to Rs 62.14crore (14.1 percent of total revenue).

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