NDTV Group reports profitable Q1 FY2021; TV business PAT at Rs 4.42 cr

The NDTV Group has reported a profitable Q1 FY2021 despite the widely-reported impact of the coronavirus pandemic on businesses in India and the media sector in particular.

The television business of the company, NDTV Ltd, has declared profit after tax (PAT) of Rs 4.42 crore. Of the last nine quarters, the broadcasting business has shown a profit in eight.

Also read: NDTV Group reports best performance in 9 yrs; sees turnaround of Rs 90 cr

The Group’s profit after tax for this quarter is Rs 6.89 crore.

With the Group building its financial strength, its liabilities (including bank borrowings) have reduced by Rs 95 crore in the last two years.

The Group acknowledged the loyalty and commitment of those employees who took pay cuts for Q1 (the majority of employees have seen these cuts reversed as of August 1; the management and other senior employees continue to work with reduced salaries).

NDTV Convergence, which is the Group’s digital business, remains a market leader with huge traffic on account of its credible reporting of the pandemic. Its EBITDA for the quarter stood at 23 per cent, the same as that of the last quarter (Q4) of FY2019-20.