The NDTV Group yesterday declared its best third quarter (Q3) results in the last 11 years with a profit of Rs 20 crores with a turnaround of Rs 9 crores over the same corresponding quarter last year. NDTV’s television business delivered the best quarter in the last 16 years earning a profit of more than Rs 10 crores, with a turnaround of Rs 4 crores over the same period last year.
The company noted that this was NDTV Group’s best quarterly result in the last eight years. NDTV Ltd’s PAT in Q3 FY 21 stood at Rs 10.6 crores, up from Rs 6.6 crores in Q3 FY 20 whereas NDTV’s consolidated PAT in Q3 FY 21 stood at Rs 20.3 crores in Q3 FY 21, up from Rs 11.2 crores in Q3 FY 20.
NDTV’s digital arm NDTV Convergence marked the best quarter ever with a profit of more than Rs 10 crores with revenue increasing by upto 32 percent over the same quarter last year. The business challenges thrown up by the pandemic and the Group has so far in the financial year reduced its bank borrowing by Rs 27 crores.
“NDTV thanks every member of its team for ensuring quality news was delivered to its vast audience despite the many impediments presented by the Coronavirus outbreak. Its reporters and crews have travelled all over the country to share the most credible and latest information on how India is handling the pandemic. The Management of the Group is aware that the financial challenges of an economic slowdown continue to linger, with advertising yet to recover to pre-Covid levels; it is focused on mitigating any risk presented by this for the next few quarters,” said NDTV in a media release.