NDTV posts net profit of Rs 7 cr in Q4 FY16 vs loss of Rs 11 cr last year

NDTV Group has reported a major improvement in its profit after tax (PAT) in the fourth quarter ended March 31, 2016 at Rs 7 crore on standalone basis, compared to a loss of Rs 11 crore in the corresponding quarter last fiscal.

NDTV Group narrowed its Q4 FY16 net loss to Rs 1 crore from a loss of Rs 17 crore in Q4 FY15.

The group’s consolidated total income from operations for the financial year ended March 31, 2016 stood at Rs 565.76 crore, a marginal dip from Rs 571.28 crore reported in FY15.

Subsequent to the quarter, the group secured funding for its new e-commerce venture Mojarto.com, an online e-commerce platform for buying and selling of art and artefacts, collectibles and jewellery. The following other e-commerce businesses are now funded: Gadgets360.com, Carandbike.com, BandBaajaa.com, and SmartCooky.com.

Meanwhile, the NDTV Board has decided to consider re-structuring/ de-merger and separate listing of NDTV Convergence (ndtv.com) to unlock shareholder value. Ndtv.com is one of India’s most successful Internet businesses with a global reach and more than 65 million unique visitors a month. NDTV Convergence has been consistently profitable.