NDTV Q4: Firm posts 97% decline in net profit to ₹59 lakh

Media firm New Delhi Television Ltd (NDTV) on Monday reported 97.5 per cent decline in net profit (attributable to owners) at ₹59 lakhs for the quarter that ended March 2023. This is against a consolidated net profit of ₹24.16 crore in the corresponding quarter last fiscal.

Its consolidated revenue from operations declined by 35.5 per cent to ₹66.96 crore during the quarter under review compared to ₹103.8 crore a year ago.

NDTV has reduced the external borrowings, to ₹3 crore in the quarter under review from ₹9 crores last year

The cash and cash equivalents stood at ₹103.6 crore for the quarter ended March 2023, as compared to Rs. 116.4 crores last year.

“The one-time expenses on account of severance pay and one-time write-off provisions have impacted the EBITDA margins by ₹4.80 crores,” said the company in its filing.

On December 30, 2022, AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR Holding Private Limited has acquired 27.26% stake in NDTV, resulting in a controlling stake of 64.71% in NDTV by AMNL through its subsidiaries. 

“The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organization," said Gautam Adani, Founder and Chairman of the Adani Group had said

“One of the first things we plan to do is to strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform. To grow NDTV’s digital reach via greater global content, new formats, personalization and interactivity with viewers would require more reporters, producers and editors supported by strong research tools. We will deliver news that really adds value to the lives of Indian citizens and those interested in India," said Mr. Sanjay Pugalia, CEO, AMG Media Networks Ltd. 

The company's scrip ended 3.99 % up at ₹189 at BSE.