NDTV Q4 result: Net loss at Rs 8.74 cr, revenue up 59% on digital expansion
For the full 2023-24 fiscal year, the firm posted a net loss of Rs 22.54 crore as compared to a profit of Rs 52.18 crore in the previous financial year.
News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic.
Consolidated net loss of Rs 8.74 crore in January-March compared with loss of Rs 1.35 crore profit in the same period a year back, according to a stock exchange filing by the company.
Loss, however, narrowed from Rs 10.13 crore in the December quarter as its digital footprint expanded and gained traction.
Revenue from operations rose to Rs 106.52 crore from Rs 66.96 crore in the January-March period.
“NDTV Convergence, the company’s digital arm also witnessed a significant 39 per cent increase in global digital traffic in March 2024 over April 2023 on its platforms,” a company statement said.
“The NDTV Group’s ability to adapt to evolving consumer preferences and market dynamics has been instrumental in driving this impressive growth,” it said.
Attrition was down 58 per cent from previous year.
During the financial year, NDTV expanded its presence across consumer segments with the launch of NDTV MP-CG, NDTV Rajasthan, and NDTV Profit. Additionally, NDTV Marathi is being launched on May 1.
“This strategic expansion drive from a two-channel setup to a six-channel setup has meant substantial investments in next-generation infrastructure,” the statement said.
“A cutting-edge broadcast facility in BKC, Mumbai, is up and running. Another state-of-art integrated facility will be operational in NCR, Delhi in the coming months. While these investments strengthen future growth objectives, they have had an impact on short-term financial performance.
“NDTV remains committed to creating long-term shareholder value by leveraging its premium brand value to launch new products, expand audiences and drive efficiency by investments in technology,” the statement said.
As the new financial year commences, NDTV continues its expansion momentum with the upcoming launch of its next regional news channel, NDTV Marathi and reimagining its international offering under, NDTV World, featuring original shows with an Indian perspective catering to a global audience and the Indian diaspora, it added.
For the full 2023-24 fiscal year, the firm posted a net loss of Rs 22.54 crore as compared to a profit of Rs 52.18 crore in the previous financial year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Apr 26 2024 | 10:51 PM IST