With a profit of Rs 70.9 cr, NDTV Group declares its best result in over a decade

With a profit of Rs 70.9 crore, the NDTV Group has declared its best result in over a decade for the financial year ending March 31, 2021. NDTV Ltd, the Group’s television company, has recorded its best-ever annual result: a profit of Rs 38 crore for the financial year ending March 31, 2021. This marks a turnaround of Rs 25 crore over the last financial year.

NDTV Convergence, the company’s digital arm, has recorded the highest revenue and EBITDA in its history, and its biggest-ever profit of Rs 27.9 crore.

For Q4 FY2021, the television company has recorded a profit of Rs 17.7 crore, making this the most profitable Q4 ever for the company. The Group has a profit of Rs 26.1 crore for the same quarter.

The Group has sold majority stake in its online Gadgets business, as disclosed to the exchanges on March 26, 2021. The transaction contributed 8.27% of the Group’s revenue and 45.74% of its profit, and it cleared debt and liabilities worth Rs 30 crore.

The Group’s bank borrowings have been reduced in the last financial year by Rs 50.5 crore. External liabilities have been cut by Rs 73.3 crore.

While acknowledging the contribution of its reporters, camera people, editorial team, engineers, etc., NDTV in a statement issued said, “The Management and Board of the Company are well-aware of the business challenges mounting on account of the pandemic, the national lockdown, and now, the series of smaller lockdowns triggered by the deadly second wave. There are daily reports on the impediments to the economy and the fallout on advertising. The Group will operate cautiously in this, the second consecutive year of the pandemic, while endeavoring to remain India’s Most-Trusted News Broadcaster.”