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NDTV Convergence posts robust revenue growth of 22% this quarter

NDTV Convergence posts robust revenue growth of 22% this quarter

Author | exchange4media News Service | Friday, Nov 07,2014 8:14 AM

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NDTV Convergence posts robust revenue growth of 22% this quarter

NDTV on Thursday posted its earnings for the period ending September 30, 2014.

According to the report, NDTV’s losses are lower in the first half of this year than in the previous year and are narrowing down over time. A major step forward is that NDTV Profit / Prime was EBITDA positive this quarter (this is after making losses of Rs 40+ crore last year and losses in earlier years too). “This will help the company to move towards profitability. Further, profitability can also be achieved by restructuring of businesses or selling of loss-making units while ensuring a hard focus on the core business,” said a statement from the channel.

Results:

  NDTV Group operating income grew by 24% for the half year ended September 2014 to Rs 258 crore, up from Rs.209 crore for the same period last year.

  NDTV Group operating income for the quarter ended September 2014 is Rs 110 crore, up from Rs 106 crore in the same quarter last year.

  NDTV Profit / Prime achieved a major turnaround by turning EBITDA positive in Q2 FY15, within six months of its re-launch.

  NDTV Convergence continues to show robust revenue growth of 22% in this quarter and a growth of 34% for the half year ended 30th September, 2014 on YoY basis.

  The Board has mandated the Management to:

-   Fix, restructure or sell non-core businesses while accelerating growth in core businesses;

-   Further investment in online assets to accelerate the Company’s leadership position to benefit from the digital revolution; and

-   Explore all options to unlock and maximize Shareholders’ value.
 

Tags: NDTV | Profit | Prime | EBITDA

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