NDTV Group has released financial details for Q2’17; the quarter ended September 30, 2016. The overall group, including e-commerce ventures, has a Rs 7 crore turnaround, ending with an EBITDA loss of Rs 4 crore for the quarter as compared to a Rs 11 crore loss for the same period last year.
The company attributes the improved performance to improved advertising revenues alongside lower costs in Convergence, NDTV’s digital content subsidiary and e-commerce segment.
NDTV Convergence showed 16 per cent growth in revenues YoY with 75 per cent increase in mobile advertising revenue YoY. The company also said that NDTV Gadgets360.com, it’s ecommerce portal for gadgets, turned profitable this quarter, with Q2 revenues seeing a 250 per cent increase as opposed to Q1 revenues.
According to the company, NDTV 24x7 has 56 per cent share of viewership in the UK with all other Indian news channels (Both Hindi and English) account for the remaining 44 per cent. Launches during the quarter included NDTV Spice and NDTV India on Virgin Cable (UK) and NDTV 24x7 and NDTV India on SingTel in Singapore.
The company also tied up with DEN Networks to make NDTV and other network offerings available in UP and Uttarkhand. This move, says the group, will make it available to more than 2 million households.