NDTV FY22 revenue up 11% to Rs 396.4 crore
The company reported a 13.22% jump in consolidated net profit at Rs 84.76 crore against Rs 74.86 crore
Published - May 19, 2022 9:04 AM | 2 min read
News broadcaster NDTV's consolidated revenue for the fiscal ended 31st March 2022 has increased 11% to Rs 396.4 crore compared to Rs 357.63 crore in the previous fiscal. Expenses for the fiscal rose 3% to Rs 327.13 crore compared to Rs 317.59 crore.
The company reported a 13.22% jump in consolidated net profit at Rs 84.76 crore against Rs 74.86 crore.
For the quarter ended 31st March, the company's consolidated revenue jumped 23% to Rs 103.8 crore from Rs 84.72 crore in the corresponding quarter of the previous fiscal. Expenses declined 17% to Rs 80.53 crore from Rs 96.59 crore in the year-ago period.
Net profit for the quarter was up by 7.22% at Rs 25.83 crore compared to Rs 24.09 crore.
In a statement, NDTV said that its television company, NDTV Limited, has recorded its most profitable quarter and year in its history. Further, NDTV Convergence, the digital arm of the Group, has delivered its highest-ever revenue and profit.
The NDTV Group has cut its external liabilities (including borrowings) by Rs 106.4 crore during the fiscal.
On 19 January 2022, the company and NDTV Networks Limited have signed the Share Sale and Purchase agreement (SPA) with Astro Entertainment Sdn Bhd (Astro), for the sale of 3,424,500 ordinary shares constituting 20% of the total share capital in Astro Awani Network Sdn Bhd (Awani), for consideration of Ringgit Malaysia (RM) 8.5 million (approximately Rs 15.16 crore) at carrying cost of Rs 2.71 crore each.
"There is no impact of this SPA on the results for the current quarter as the transaction is subject to the approval of the Reserve Bank of India. On completion of the transaction, Awani will cease to be an associate of the Company," the company disclosed.
On 19 April 2022, the Board of Directors of the Company has approved the execution of the Share Purchase Agreement between the Company and Bathla Teletech Private Limited and its affiliates (“the Purchasers”) for the sale of 100% shares held in Delta SoftPro Private Limited to the Purchasers for a consideration of Rs 30 crore. Share Purchase Agreement has been executed between the Company and Purchasers on 22 April 2022 subject to a condition precedent to be fulfilled before the transfer of the share.
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