ITV

Tag: New Delhi Television Limited

  • Adani Group announces open offer launch on 22 November

    Adani Group announces open offer launch on 22 November

    Mumbai: In a regulatory filing with the stock exchanges, NDTV said that the Adani Group on Friday announced a revised schedule for its proposed open offer to buy a 26 per cent public shareholding in the news network.

    The filing states that the Adani open offer will now likely begin accepting subscriptions on 22 November and end on 5 December.

    Previous dates for Adani’s open offer were from 17 October to 1 November.

    In August, Gautam Adani entities acquired Vishva Pradhan Commercial Pvt Ltd (VCPL), a lesser-known company that had lent the founders of NDTV more than Rs 400 crore.

    Also read : AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

    VPCL lent the money more than a decade ago in exchange for warrants that allowed it to buy a 29.18 per cent stake in NDTV at any time.

    VCPL, in collaboration with AMG Media Networks and Adani Enterprises, has proposed to acquire an additional 26 per cent, or 1.67 crore equity shares, at a price of Rs 294 per share.

    The promoters of NDTV had challenged the open offer and the acquisition of VCPL’s stake, claiming that the deal could not proceed without the approval of Sebi as well as the income tax department.

    The Adani Group had previously denied claims that the stake sale would require tax clearance.

    The NDTV promoters claimed that they were completely unaware of the takeover and that it was carried out without their consent.

    Following the transaction, the acquirer (Adanis) will not directly own any equity shares in the target company (NDTV), but will own at least 99.50 per cent and up to 100 per cent of the promoter company’s paid-up share capital (RRPR Holdings).

    The proposed sale of NDTV and its subsidiary, NDTV Networks Ltd., which together own 20 per cent of Malaysian media company Astro Awani Network Sdn Bhd, has been postponed in the meantime.

    By letter dated 9 November the Central Bureau of Investigation withheld for the time being its approval of the transaction.

  • “This exercise of rights by VCPL was executed without any consent of the founders”: NDTV

    “This exercise of rights by VCPL was executed without any consent of the founders”: NDTV

    Mumbai: Hours after the announcement, the indirect acquisition of a 29.18 per cent stake in news broadcaster New Delhi Television Limited (NDTV) by a wholly owned subsidiary of Adani Enterprises’ AMG Media Networks Limited (AMNL), a document related to the development, accessed by Indiantelevision.com, stated, “This exercise of rights by VCPL was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, have been made aware of this exercise of rights only today. As recently as yesterday, NDTV had informed the stock exchanges that there was no change in the shareholding of its founders.”

    Also, as informed earlier, AMNL will also present an open offer to acquire another 26 per cent stake in the media house.

    The statement further added, “Without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, a notice has been served upon them by Vishvapradhan Commercial Private Limited (VCPL), stating that it (VCPL) has exercised its rights to acquire 99.50 per cent control of RRPR Holding Private Limited (RRPRH), the promoter-owned company that owns 29.18 per cent of NDTV.”

    In a statement released on 23 August, the Adani Group said, “RRPR is a promoter group company of NDTV (NDTV, BSE: 532529) and holds a 29.18 per cent stake in NDTV. VCPL, along with AMNL & AEL (persons acting in concert), will launch an open offer to acquire up to a 26 per cent stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.”

    Also read : AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

    Simultaneously, NDTV management also clarified that the notice from VCPL is based on a loan agreement it entered into with NDTV founders Radhika and Prannoy Roy in 2009-10. “The notice states that VCPL has exercised its option to convert 19,90,000 warrants into equity shares of RRPRH at Rs 10 per share and that a total of Rs 1.99 crore has been transferred to RRPRH.”

    RRPRH, the owner of 29.18 per cent of NDTV, has been told to transfer all its equity shares to VCPL within two days.

    NDTV has also received a copy of the public announcement by VCPL dated 23 August of an open offer to acquire up to 26 per cent of the voting share capital of NDTV at Rs 294 per share (up to 16,762,530 fully paid-up equity shares) as per the requirements of the SEBI (substantial acquisition of shares and takeovers) Regulations, 2011.

  • NDTV bottom-line black despite revenue decline in Covid2019 quarter

    NDTV bottom-line black despite revenue decline in Covid2019 quarter

    BENGALURU: The Prannoy and Radhika Roy-led Indian media house New Delhi Television Ltd (NDTV) reported 33.7 percent lower year-on-year (y-o-y) consolidated revenue from operations for the quarter ended 30 June 2020 (Q1 2021, quarter or period under review) as compared to the corresponding quarter of the previous year Q1 2020 and 21.5 percent lower than that reported for the immediate trailing quarter Q4 2020. Despite the sharp drop in consolidated operating revenue, the company reported consolidated profit after tax (PAT) of Rs 7.55 crore for the quarter under review, albeit 54.7 percent lower than the Rs 16.66 crore in Q1 2020 and 17.9 percent lower q-o-q than the Rs 9.20 crore reported for Q4 2020.  Reported consolidated operating revenues for Q1 2021, Q1 2020 and Q4 2020 were Rs 72.73 crore, Rs 109.67 crore and Rs 92.60 crore respectively.  All figures mentioned in this paper are consolidated unless stated otherwise.

    Total income including other revenue for Q1 2021 declined 35 percent y-o-y to Rs 74.02 crore from Rs 113.87 crore in Q1 2020 and declined 27.4 percent from Rs 102 crore in Q4 2020. Calculated consolidated operating profit or simple operating EBITDA for the period under consideration was 36.8 percent lower y-o-y at Rs 15.98 crore (22 percent of operating revenue) as compared to Rs 25.29 crore (23.1 percent of operating revenue) for Q1 2020, but 40.4 percent higher q-o-q than the Rs 11.38 crore (12.3 percent of operating revenue) for Q4 2020.

    Even before the lockdown, the company has been cutting expenses. Consolidated total expenses for Q1 2021 declined 31.2 percent y-o-y to Rs 64.64 crore from Rs 93.96 crore in Q1 2020 and were 27.8 percent lower q-o-q than the Rs 89.49 crore in Q4 2020.  Production expenses and cost of services in Q1 2021 declined 52.5 percent y-o-y to Rs 11.47 crore from Rs 24.16 crore in Q1 2020 and fell 43.6 percent q-o-q from Rs 20.32 crore in Q4 2020. Employee benefits expenses in Q1 2021 were 28.8 percent lower y-o-y at Rs 22.39 crore as compared to Rs 31.46 crore in Q1 2020 and declined 24.2 percent q-o-q from Rs 29.54 crore in Q4 2020.

    Finance costs declined 11.4 percent y-o-y during the period under review to Rs 2.57 crore from Rs 2.90 crore in Q1 2020, but increased 1.6 percent q-o-q from Rs 2.53 crore in Q4 2020. Operating and administrative expenses for Q1 2021 fell 13.5 percent y-o-y to Rs 14.28 crore from Rs 16.51 crore and reduced 32.2 percent q-o-q from Rs 21.07 crore in Q4 2020. Marketing, distribution and promotional expenses for Q1 2021 were 29.7 percent lower y-o-y at Rs 8.61 crore as compared to Rs 12.25 crore in the corresponding quarter of the previous year and 16.3 percent lower q-o-q that the Rs 10.29 crore in the immediate trailing quarter.

    NDTV has two segments – television, media and related operations; and retail/e-commerce. NDTV has reported nil revenue and nil result for the latter for Q2 2021.

    Television segment operating revenue declined 33.3 percent y-o-y in Q1 2021 to Rs 72.73 crore from Rs 108.98 crore in Q1 2020 and was 20.8 percent lower q-o-q than Rs 91.80 crore in Q4 2020. NDTV reported 46.8 percent y-o-y decline in operating profit before exceptional items, share in profit/ (loss) of associate/ joint ventures, interest and tax to Rs 14.70 crore in Q1 2021 from Rs 27.64 crore in Q1 2020 and 20.7 percent lower than Rs 18.54 crore in Q4 2020.

    In note 1 of NDTV’s financial statement it is explained that parent company, which runs television business, has earned a standalone net profit of Rs 4.42 crore (Rs 442 lakh) during the quarter ended 30 June 2020 and, as of that date, the parent company’s current liabilities exceed its current assets by Rs 79.35 crores (Rs 7935 lakh). These conditions, along with other matters described in the note, indicate that a material uncertainty exists that may cast significant doubt on the ability of the parent company to continue as a going concern. The management has stated that the parent company has initiated certain strategic and operational measures included in note one to mitigate the uncertainty. Accordingly, they have prepared the statement on a going concern basis.

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  • NDTV PAT up on lower expenses despite revenue drop

    NDTV PAT up on lower expenses despite revenue drop

    BENGALURU: The Prannoy and Radhika Roy-led Indian media house New Delhi Television Ltd (NDTV) reported 6.4 percent lower consolidated revenue from operations for the year ended 31 March 2020 (FY 2020, year under review) as compared to the previous year FY 2019. The company however reported more than double consolidated (grew 145.8 percent) net profit after tax or PAT for FY 2020 as compared to the previous year. Reported consolidated revenues for FY 2020 and FY 2019 were Rs 373.17 crore and Rs 398.73 crore respectively. PAT for the year was Rs 27.92 crore as compared to Rs 11.36 crore for the previous year.  All figures mentioned in this paper are consolidated unless stated otherwise.

    Total income including other revenue for FY 2020 declined 7 percent to Rs 392.97 crore from Rs 422.36 crore in FY 2019.  Calculated operating profit or EBITDA for the year under consideration was 8.2 percent higher at Rs 52.78 crore (14.1 percent margin) as compared to Rs 48.80 crore for FY 2019.

    The company has been paring expenses – consolidated Total expenses for FY 2020 declined 8.6 percent to Rs 356.08 crore from Rs 389.73 crore in the previous fiscal.  Production expenses and cost of services in FY 2020 declined 0.9 percent to Rs 88.53 crore from Rs 89.37 crore in FY 2019. Employee Benefits Expenses in FY 2020 were 14.4 percent lower at Rs 119.33 crore as compared to Rs 139.46 crore in FY 2019. Finance costs declined 10.8 percent during the year under review declined 10.8 percent to Rs 24.87 crore from Rs 27.88 crore. Operating and administrative expenses for FY 2020 fell 4.3 percent to Rs 72.54 crore from Rs 75.83 crore. Marketing, distribution and promotional expenses for FY 2020 were 11.7 percent lower at Rs 39.99 crore as compared to Rs 42.73 crore in the previous year.

    NDTV has two segments – Television, media and related operations; and Retail/E-Commerce. Television segment operating revenue declined six percent in FY 2020 to Rs 368.83 crore from Rs 392.36 crore in FY 2019. NDTV reported 12.4 percent decline in operating profit before exceptional items, share in profit/ (loss) of associate/ joint ventures, interest and tax to Rs 64.01 crore in FY 2020 from Rs 73.03 crore.

    NDTV reported 38.7 percent fall in operating revenue for its Retail/E-Commerce segment in FY 2020 to Rs 7.04 crore from Rs 11.49 crore in FY 2019. The segment’s loss for the fiscal under review declined to Rs 2.25 crore in FY 2020 from a loss of Rs 12.52 crore in the previous year.

    Excerpts from the notes that the company has mentioned in its financial statements

    New Delhi Television Ltd, the television arm of the group, has earned Profit after tax of Rs 752 lakh (RS 7.52 crore) during the quarter ended 31 March 2020 as against profit of Rs 804 lakh (RS 8.04 crore) during the corresponding quarter ended 31 March 2019. As of 31 March 2020, New Delhi Television Ltd’s, the television arm of the group, current liabilities exceed its current assets by Rs 8,274 lakh (Rs 82.74 crore). The television arm of the group, New Delhi Television Ltd’s ability to continue as a going concern is significantly dependent on meeting its long term and short-term working capital requirements, ability to pay overdue payables, management’s implementation of initiatives like rationalising costs, initiatives to improve advertising revenue which are under pressure, negotiating extended credit terms with suppliers and lenders, sale/divestment of non-core businesses and building efficiencies in collections. Based on current business plans and projections prepared by the management, New Delhi Television Ltd expects improvement in operations with better operational efficiencies. The company has proposed to sell a subsidiary, proceeds of which will positively impact the cash flow for New Delhi Television Ltd and the company also has tax receivable of Rs 12,322 lakh (Rs 123.22 crore) as at 31 March 2020. The material nature of the aforesaid matters, may have material adverse impact on future plans of the company. However, management, based on their understanding of the overall business and the planned strategies, believes that the company will be able to meet its contractual obligations and liabilities that fall due in the near future. Accordingly, the financial statements have been prepared on going concern basis.

  • NDTV numbers down for Q2 2020

    NDTV numbers down for Q2 2020

    BENGALURU: The Prannoy and Radhika Roy-led New Delhi Television Ltd (NDTV) reported consolidated loss of Rs 10.50 crore for the quarter ended 30 September 2019 (Q2 2020, quarter or period under review) as compared to a profit of Rs 0.58 crore for the corresponding year ago quarter Q2 2019 (y-o-y). Consolidated operating revenue for the period under review declined 17.4 percent y-o-y to Rs 77.22 crore from Rs 102.24 crore in Q2 2019.

    Consolidated total income which includes operating revenue as well as other income for Q2 2020 declined 21.8 percent y-o-y to Rs 78.8 crore from Rs 10.83 crore.

    Consolidated Operating loss for the period under review was Rs 0.76 crore as compared to an operating profit (EBITDA) of Rs 4.35 crore in Q1 2019.

    The company has two segments – television media and related operations (TV); and Retail/Ecommerce segment (Retail). For its TV segment, NDTV reported 17.6 percent y-o-y revenue decline at Rs 75.81 crore for Q2 2020 from Rs 92.03 crore. TV segment operating result for Q2 2020 was loss at Rs 1.25 crore as compared to an operating profit of Rs 13.92 crore for Q1 2019. For the Retail segment, NDTV reported revenue of Rs 1.87crore for Q2 2020 as compared to Rs 3.69 crore in Q2 2019. NDTV reported negative operating result (loss) to the extent of Rs 0.66 crore and loss of Rs 5.40 crore for Q2 2020 and Q2 2019 respectively.

    Let us look at the other numbers reported by NDTV

    Total expenses in Q2 2020 reduced 11.2 percent y-o-y to Rs 87.57 crore  from Rs 98.65 crore. Production expenses and cost of services in Q2 2020 reduced 5.3 percent y-o-y to Rs 21.10 crore from Rs 22.29 crore. Finance costs increased 8.2 percent y-o-y in Q2 2020 to Rs 6.86 crore from Rs 6.34 crore during the corresponding period of the previous year. Employee benefit expense reduced 20.8 percent y-o-y in Q2 2020 to Rs 28.91 crore from Rs 36.49 crore in Q2 2019. Operating and administrative cost in the quarter under review increased 2.5 percent y-o-y to Rs 19.55 crore from Rs 19.08 crore in Q2 2019. Marketing distribution and promotional expenses in Q2 2020 was 25.3 percent lower y-o-y at Rs 8.42 crore as compared to Rs 11.27 crore. 

  • NDTV profits up in Q1 FY20

    NDTV profits up in Q1 FY20

    BENGALURU: The Prannoy and Radhika Roy-led New Delhi Television Ltd (NDTV) reported consolidated profit after tax of Rs 16.66 crore for the quarter ended 30 June 2019 (Q1 2020, quarter or period under review) as compared to a loss of Rs 10.73 crore for the corresponding year ago quarter Q1 2019 (y-o-y). Consolidated PAT for the period under review grew 26.4 per cent from the Rs 13.18 crore reported in the immediate trailing quarter Q4 2019 (q-o-q).

    The company reported 10.3 per cent y-o-y growth and 7.3 per cent q-o-q growth in consolidated operating revenue for Q1 2020 at Rs 109.67 crore. For Q1 2019 and Q4 2019 the company had reported consolidated operating revenues of Rs 99.43 crore and Rs 102.24 crore respectively. Consolidated total income which includes operating revenue as well as other income for Q1 2020 grew 12 per cent y-o-y to Rs 113.87 crore from Rs 101.66 crore, but declined 1.2 per cent q-o-q from Rs 115.28 crore.

    Operating EBITDA for the period under review grew 275.2 per cent (almost quadrupled) per cent y-o-y to Rs 25.29 crore (23.1 per cent of operating revenue) from Rs 6.74 crore (6.8 per cent of operating revenue) and grew 46.5 per cent q-o-q from Rs 17.26 crore (16.9 per cent of operating revenue).

    The company has two segments – television media and related operations (TV); and Retail/Ecommerce segment (Retail). For its TV segment, NDTV reported 11.5 per cent y-o-y revenue growth at Rs 108.96 crore for Q1 2020 from Rs 97.72 crore and 7.8 per cent q-o-q revenue growth from Rs 101.40 crore. TV segment operating result for Q1 2020 was 164.5 per cent y-o-y higher at Rs 27.64 crore from Rs 10.45 crore but was 1.7 per cent lower q-o-q than Rs 28.12 crore. For the Retail segment, NDTV reported revenue of Rs 1.65 crore for Q1 2020 which was 55.3 per cent lower y-o-y than Rs 3.69 crore and was 13.6 per cent lower q-o-q than Rs 1.91 crore. NDTV reported negative operating result (loss) for all the three quarters to the extent of Rs 1.05 crore, 4.71 crore and Rs 0.33 crore for Q1 2020, Q1 2019 and Q4 2019 respectively.

    Let us look at the other numbers reported by NDTV

    Total expenses in Q1 2020 reduced 8.4 per cent y-o-y to Rs 93.96 crore from Rs 102.58 crore. Production expenses and cost of services in Q1 2020 increased 28.3 per cent y-o-y to Rs 24.16 crore from Rs 18.83 crore. Finance costs increased 0.3 per cent y-o-y in Q1 2020 to Rs 6.68 crore from Rs 6.66 crore during the corresponding period of the previous year. Employee benefit expense reduced 18.9 per cent y-o-y in Q1 2020 to Rs 31.46 crore from Rs 38.77 crore in Q1 2019. Operating and administrative cost in the quarter under review reduced 19.2 per cent y-o-y to Rs 16.51 crore from Rs 20.44 crore in Q1 2019. Marketing distribution and promotional expenses in Q1 2020 was 16.4 per cent lower at Rs 12.25 crore as compared to Rs 14.68 crore.

  • NDTV broadcast operations’ profitable run continues in Q3 2019

    NDTV broadcast operations’ profitable run continues in Q3 2019

    BENGALURU: Indian television media company New Delhi Television Ltd (NDTV) reported profits for the third consecutive quarter in the current fiscal from its broadcast operations, a record that has happened for the first time in fourteen years claims the company in a press release. Despite a year-on-year (y-o-y) drop in revenues the company has managed to turn fortunes around by paring off of a number of expenses, the most notable being employee cost, which has dropped by more than a third (36.7 percent) in the latest quarter as compared to the corresponding year ago quarter.

    For the quarter ended 31 December 2018 (Q3 2019, quarter or period under review), NDTV has reported consolidated profit after tax of Rs 8.31 crore (8.1 percent of operating income) as compared to a consolidated loss of Rs 21.04 crore for the corresponding year ago quarter (Q3 2018). NDTV’s consolidated total comprehensive income (TCI) for the quarter under review was Rs 8.31 crore as compared to a consolidated total comprehensive loss of Rs 22.42 crore for Q3 2018.  The company’s consolidated operating profit (operating EBITDA) for the period was Rs 17.3 crore (16.9 percent of operating revenue) as compared to a consolidated operating loss (negative EBITDA) of Rs 2.58 crore) in Q3 2018.

    Segment numbers

    NDTV has two segments – television media and related operations (Television) and retail/ecommerce. Television revenue for Q3 2019 declined 8.1 percent y-o-y to Rs 100.54 crore from Rs 109.40 crore. Television segment reported results of Rs 20.35 crore in Q3 2019 as compared to Rs 7.46 crore in Q3 2018.

    Retail/ecommerce segment had operating revenue of Rs 2.20 crore in Q3 2019 as compared to Rs 4.55 crore in Q3 2018. The segment’s loss for the period declined to Rs 2.09 crore from Rs 9.50 crore.

    Let us look at the other numbers reported by the company

    NDTV’s consolidated operating revenue for Q3 2019 declined 8.2 percent y-o-y to Rs 102,64 crore as compared to Rs 111.68 crore for the corresponding year ago quarter. Total revenue including other income also dropped by 8.2 percent y-o-y in the period under review to Rs 106.50 crore as compared to Rs 116.05 crore for Q3 2018.

    Total expenses in Q3 2019 reduced 22.7 percent y-o-y to Rs 95.21 crore (92.9 percent of operating revenue) from Rs 128.22 crore (110.3 percent of operating revenue). The company has reduced most of the major expenses, however, amongst the major ones, finance costs increased 36.1 percent y-o-y in Q3 2019 to Rs 6.97 crore (6.8 percent of operating revenue) from Rs 5.12 crore (4.6 percent of operating revenue) crore during the corresponding period of the previous year.

    As mentioned above, employee benefit expense reduced 36.9 percent y-o-y in Q3 2019 to Rs 31.26 crore (30.5 percent of operating revenue) from Rs 49.38 crore (44.2 percent of operating revenue) in Q3 2018. Operating and administrative cost in the quarter under review increased 27.9 percent y-o-y to Rs 18.06 crore (17.6 percent of operating revenue) from Rs 25.06 crore (22.4 percent of operating revenue) in Q3 2018. Marketing distribution and promotional expenses in Q3 2019 was 29.9 percent lower at Rs 11.64 crore (11.4 percent of operating revenue) as compared to Rs 16.6 crore (14.9 percent of operating revenue)

    The NDTV Group

    The company’s financial statements claim that the NDTV Group has made profits for the quarter under review as compared to the corresponding year ago quarter. Further, profit for Q3 2019 has gone up by Rs 7.72 crore as compared to the preceding quarter (Q2 2019). Similarly, losses for the nine-month period ended 31 December 2018 (9M 2019) have gone down to Rs 1.58 crore from Rs 67.82 crore for 9M-2018. NDTV says that based on current business plans and projections, the company/group expects growth in operations and improvement in operational efficiency. To meet long term and short-term working capital requirements, which includes certain overdue payments, the management continues to implement various options like rationalising costs, negotiating extended credit terms and divestment of non-core businesses address these matters and building efficiency in collections.

    The company’s media release says that NDTV Convergence, the company’s digital arm, has, for the first time, earned more than Rs 40 crore in one quarter. In December, the company disclosed that it has signed a five-year advertising deal worth more than Rs 300 crore with native advertising platform Taboola.

  • NDTV reports operating profit after curbing op costs in Q1

    NDTV reports operating profit after curbing op costs in Q1

    BENGALURU: New Delhi Television Limited (NDTV) reported consolidated operating profit (EBIDTA) of Rs 5.99 crore for thefor the quarter ended 30 June 2018 (Q1 2019, quarter or period under review) as compared to an operating loss of Rs 14.25 crore for the corresponding quarter of the previous fiscal year Q1 2018. The company’s consolidated operating revenue during the period under review declined 6.6 percent year on year (y-o-y) in Q1 2019 to Rs 98.18 crore from Rs 105.12 crore in Q1 2018. Consolidated total income for Q1 2019 declined 7.7 percent y-o-y to Rs 101.16 crore from Rs 109.60 crore.

    NDTV reported lower consolidated loss of Rs 0.81 crore during the quarter under review as compared to a loss of Rs 18.38 crore in Q1 2018. Consolidated total comprehensive loss for Q1 2019 was lower at Rs 2.64 crore as compared to Rs 22.01 crore in Q1 2018.

    Let us look at the other consolidated numbers reported by NDTV

    Consolidated total expense in Q1 2019 reduced 20.6 percent y-o-y to Rs 102.08 crore from Rs 128.56 crore in the corresponding quarter of the previous year. Consolidated production expenses and cost of services increased 5.1 percent in Q1 2019 to Rs 18.83 crore from Rs 17.91 crore in Q1 2018. Consolidated employee benefit expense during the quarter under review reduced 35.2 percent y-o-y in Q1 2019 to Rs 38.77 crore from Rs 59.80 crore in the corresponding period of the previous year. Consolidated operation and administration expense reduced 17.2 percent y-o-y in Q1 2019 to Rs 19.94 crore from Rs 24.07 crore in Q1 2018. Consolidated marketing, promotion and distribution expense during the period under review reduced 16.7 percent to Rs 14.65 crore from Rs 17.59 crore in Q1 2018.

  • NDTV reports lower operating loss for fiscal 2018

    NDTV reports lower operating loss for fiscal 2018

    BENGALURU: The Prannoy and Radhika Roy-led New Delhi Television Ltd (NDTV) reported lower consolidated operating loss for the year ended 31 March 2018 (FY 2018, year under review) as compared to the corresponding periods of the previous fiscal. The company has brought down its expenses during the year under review across major parameters such as employee costs, production expenses and cost of services, operating and administration expenses, marketing promotion and distribution expenses as compared to the previous year.

    NDTV reported 12.4 per cent decline in consolidated operating revenue for FY 2018 at Rs 429.01 crore as compared to Rs 489.99 crore in FY 2017. Consolidated total revenue declined 12.3 per cent in FY 2018 to Rs 439.71 crore from Rs 501.45 crore in the previous year. Consolidated operating loss (EBITDA) in FY 2018 at Rs 35.97 crore was lower than the consolidated operating loss of Rs 42.32 crore in fiscal 2017. Total comprehensive loss (TCL) for the fiscal under review was slightly lower at Rs 84.35 crore as compared to Rs 86.18 crore in FY 2017.

    The company suffered a consolidated operating loss  for the fourth quarter ended 31 March 2018 at  Rs 9.45 crore as compared to a consolidated operating profit of Rs 16.63 crore (11.4 per cent of operating revenue) in the corresponding year ago quarter Q4 2018. NDTV reported consolidated TCL of Rs 20.40 crore during the quarter under review as compared to a consolidated total comprehensive income of Rs 7.14 crore in Q4 2017.Consolidated operating revenue in Q4 2018 fell 25.7 per cent yoy to Rs 108.40 crore as compared to Rs 145.92 crore in Q4 2017.

    Let us look at the other consolidated numbers reported by NDTV

    Total expense in FY 2018 reduced 12.5 per cent to Rs 501.06 crore from Rs 572.55 crore in the previous year. Production expenses and cost of services reduced 23.3 per cent in FY 2018 to Rs 83.64 crore from Rs 109.05 crore in FY 2017. Employee benefit expense during the year under review reduced 9.5 per cent in fiscal 2018 to Rs 212.59 crore from Rs 234.90 crore in the previous year. Operation and administration expense reduced 7.5 per cent in FY 2018 to Rs 106.61 crore from Rs 115.30 crore in FY 2017. Marketing, promotion and distribution expense during the year under review reduced 14.9 per cent to Rs 62.14 crore from Rs 72.06 crore in FY 2017.

    Also Read:

    NDTV to reduce workforce by up to 25%

    NDTV puts top management in place

  • Retail, e-com biz eat into NDTV’s TV media profits for Q3

    Retail, e-com biz eat into NDTV’s TV media profits for Q3

    BENGALURU: Prannoy and Radhika Roy-led New Delhi Television Limited (NDTV) reported consolidated operating profits–simple EBITDA including other income–of Rs 1.88 crore (1.6 per cent margin) for the quarter ended 31 December 2017 (Q3 2018, quarter under review). For the corresponding year ago quarter (Q3 2017) and the trailing quarter (Q2 2018), the company had reported consolidated operating losses of Rs 14.90 crore and Rs 9.74 crore respectively.  

    NDTV has two segments–television media and related operations (television); and retail/e-commerce. The company reported operating profit of Rs 7.54 crore for its television segment against revenue of Rs 109.96 crore for the quarter under review. Year-on-year (yoy), Q3 2018 television segment revenue was 7 per cent lower than Rs 118.27 crore for Q3 2017. The company had reported an operating loss for the television segment of Rs 4.29 crore for the corresponding year ago quarter. NDTV reported 18.2 per cent higher yoy operating revenue of Rs 4.55 crore for Q3 2018 as compared to Rs 3.85 crore for Q3 2017 for its digital/e-commerce segment. Digital/e-commerce segment incurred lower operating loss of Rs 9.50 crore in the quarter under review as compared to Rs 15.18 crore in Q3 2017.

    NDTV said in its earnings release for the quarter that the fact that the company is EBITDA positive proves that its turnaround plan is quickly progressing.

    Let us look at the other numbers reported by NDTV

    NDTV reported a 78.5 per cent drop in consolidated revenue for the quarter under review at Rs 112.24 crore as compared to Rs 121.3 crore for Q2 2017. The company reported consolidated net loss of Rs 22.42 crore for Q3 2018 as compared to a net loss of Rs 26.26 crore for Q3 2017.

    Consolidated total expenditure for the quarter declined 16.3 per cent yoy to Rs 123.13 crore from Rs 147.03 crore. Production expenses and cost of services declined 14 per cent yoy to Rs 23.16 crore from Rs 26.93 crore. Employee benefit expenses reduced 20.5 per cent yoy to Rs 49.38 crore from Rs 62.11 crore. Operating and administrative expenses for Q3 2018 declined 16.4 per cent yoy to Rs 24.97 crore from Rs 29.87 crore. Marketing, distribution and promotional expenses declined 7.6 per cent yoy to Rs 16.60 crore from Rs 17.95 crore.

    Also Read :

    NDTV puts top management in place

    NDTV Profit to be shut down, to move business & finance segments on NDTV 24×7

    NDTV promoters get clean chit from SEBI in disclosure case