NDTV Convergence closes financial year with its highest ever PAT of Rs 20 cr
NDTV Convergence closes financial year with revenue at Rs.144 crore
NDTV Convergence, the NDTV Group’s digital business, has delivered record growth. It closed the financial year with revenue at Rs.144 crore. Profit after Tax was Rs.20 crore, the highest ever for Convergence.
NDTV Earnings for Quarter and Year ended 31 March 2018:
• Convergence’s record profit is especially noteworthy because of its low costs – it hit a record
EBITDA of Rs. 40 crores with costs rising only by just 7 % percent over last year.
• NDTV Limited costs for the year are substantially down by Rs. 62 crores as compared to last year.
• Reduction in operating expense in Q4’2018 by Rs. 15 crores versus Q3’2018 (excluding one-time expenses of Rs. 18 crores) on account of rationalization of people, facilities and functions.
• EBIDTA for the fourth quarter is Rs. 11crores (operational profit) before one- time expenses of Rs. 18 crore.
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