NDTV Group reports decline in Q4 FY23 revenues to Rs 66.95 cr

The NDTV Group has reported declines in its consolidated revenues as well as profit after tax (PAT) for the fourth quarter ended March 31, 2023. The NDTV Group’s Q4 FY2023 revenues stood at Rs 66.95 crore, as compared to Rs 103.8 crore in Q4 FY2022. The fall in PAT was steeper at Rs 1 crore in Q1 FY2023, as against Rs 24 crore garnered in the corresponding quarter of the previous fiscal.

The cash and cash equivalents were at Rs 103.6 crore vis-a-vis Rs 116.4 crore last year.

In a release issued, the NDTV Group stated that with its continued focus to reduce the external borrowings, it has reduced from Rs 9 crore last year to Rs 3 crores as on March 31, 2023.

The Group further stated that it is declaring another profitable year despite weak economic environment and slowdown in global advertisement spend.

The one-time expenses on account of severance pay and one-time write-off provisions have impacted the Group’s EBITDA margins by Rs 4.80 crore.

On social media, NDTV’s following remains premium. NDTV claimed to be the most-popular news handle on Twitter with 17.7+ million followers. NDTV channels on YouTube have a nearly 29 million subscribers.

On December 30, 2022, AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR Holding Private Limited has acquired 27.26% stake in NDTV, resulting in a controlling stake of 64.71% in NDTV by AMNL through its subsidiaries. On the occasion Gautam Adani, Founder and Chairman of the Adani Group had said, “The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organisation.”

Sanjay Pugalia, CEO, AMG Media Networks Ltd, had said, “One of the first things we plan to do is to strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform. To grow NDTV’s digital reach via greater global content, new formats, personalization and interactivity with viewers would require more reporters, producers and editors supported by strong research tools. We will deliver news that really adds value to the lives of Indian citizens and those interested in India.”

With the aforesaid objective in mind, the new Management and Board are taking steps to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth and scale-up its presence across segments.