NDTV narrows Q4 costs by Rs 15 cr; Convergence FY18 revenues up at Rs 144 cr
NDTV Limited has announced reduction in operating expense in Q4 FY2018 by Rs 15 crore versus Q3 FY2018 (excluding one-time expenses of Rs 18 crore) on account of rationalisation of people, facilities and functions.
EBIDTA for the fourth quarter is at Rs 11 crore (operational profit) before one-time expenses of Rs 18 crore.
NDTV’s costs for the year are substantially down by Rs 62 crore as compared to last year.
Once again, NDTV Convergence, the group’s digital business, has delivered record growth. It closed FY2018 with revenues at Rs 144 crore. Profit after Tax was Rs 20 crore, the highest ever for NDTV Convergence. Convergence’s record profit is especially noteworthy because of its low costs – it hit a record EBITDA of Rs 40 crore with costs rising only by just 7 per cent over last year.
NDTV Convergence now clocks 150 million unique visitors a month (Source: Google Analytics Premium) making it the No.1 destination for online news in India (Source: General News Category, comScore from November 2017 to March 2018).
Gadgets360 continues to be No.1 in India with 40 million monthly unique visitors (Source: Google Analytics Premium, March 2018) and is amongst top 10 largest tech news sites of the world ahead of global leaders like TechCrunch, The Verge, Engadget, PCWorld, arsTECHNICA and Wired (Source: SimilarWeb, April 2018). Its transactional business continues to be profitable.
Car&Bike is, within two and a half years of its launch, now the country’s second-largest website in the auto space with over 11 million monthly unique visitors (Source: Google Analytics Premium, March 2018).
Hotdeals360.com continues to curate best online deals and has registered a stupendous growth of 600 per cent between Q3 and Q4, FY18 in average daily sessions.
Pricee.com, a new app and website, which went live in January this year, offers real-time prices for 20 crore products over 800+ categories ranging from cooking oil to phones and geysers. It is the only product search engine available on voice search across devices like Amazon Echo and Google home. We are working with top e-commerce websites for monetisation opportunities on this platform.