NDTV posts rise in income, reduces news arm's net loss
DetailsRebecca Hawkes | 05 May 2015
New Delhi Television (NDTV) has posted a profit before other income, financial costs and exceptional items of INR96.4 million (US$1.5 million) in the 2015 financial year, compared to a loss of INR469.6 million ($7.38 million) in the previous year.
Year-on-year growth for the broadcaster's consolidated total income during the fourth quarter (Q4) of 2015 rose 31.8% to INR1.6355 billion (U$25.7 million) from INR1.2409 billion ($19.5 million) in Q4 2014.
Loss in FY-2015 fell by 45.8% to INR440.3 million ($6.92 million) compared to INR811.8 million ($12.76 million) in FY-2014.
"Overall it's been a good year in all three areas of business. The TV and related areas saw a sharp turnaround, recording an EBIDTA improvement of about Rs60 crore (INR600 million). The digital content business saw record revenue crossing the Rs100 crore (INR1 billion) mark, together with strong profitability. And though the ecommerce business reported losses, as most of them do, there was an exponential increase in revenue, crossing Rs60 crore (INR600 million) in GMV," said Vikram Chandra, executive director and CEO, NDTV.
The company's news business reported a reduced net loss in its news business from INR535.6 million ($8.42 million) in 2014 to INR255.8 million ($4 million) in FY2015. Its news channels comprise the English-language NDTV 24X7, Hindi channel NDTV India and the hybrid business news channel NDTV Profit/ Prime.
"We have put a lot of focus on our channels this fiscal. While NDTV 24X7 always used to be profitable, NDTV India was not and NDTV Profit used to lose a lot of money. This fiscal, 24X7 has remained profitable, and in addition, we have achieved EBITDA breakeven at NDTV Profit/Prime and NDTV India is EBITDA positive," Chandra told TelevisionPost.com.