NDTV has profitable Q2 FY2023, half-year result is best in 13 years

The NDTV Group is declaring its most-profitable half-yearly results in over a decade. For Q2 as well, the Group remains as profitable as last year, despite incurring higher costs.

The consolidated profit for the Group for H1 (first half of the financial year) is Rs 35.2 crore, a growth of 26 per cent over last year.

The television company’s profit for the same period (H1) is Rs 20.7 crore compared to Rs 24 crore last year; the profit for this year is higher without exceptional items or one-time gains recorded last year.

The group’s digital arm, NDTV Convergence, has delivered its best-ever result for the year-to-date with a profit of Rs 20.7 crore; its revenue has increased by more than 30% over last year.

The second quarter of the financial year has seen many media companies declaring losses. NDTV, however, had a profitable Q2. The television company has clocked a profit of Rs 8.2 crore; for the Group, the profit is Rs 12 crore, comparable to the same period as last year.

This is the 12th consecutive profitable quarter for the NDTV Group.

In a release issued, NDTV stated, “The Management is aware that advertising in the news genre is shrinking this year, and business plans are being handled accordingly to mitigate any risks.”