NXTDIGITAL achieves double digit growth in Revenues for Q3FY21

NXTDIGITAL today announced its results for the third quarter and the nine-month period of the current financial year - a period that continued to see significant impact of the COVID pandemic on the media and entertainment industry.

On a consolidated basis, the revenue for the quarter ending December 31, 2020 stood at Rs 259.90 crores, recording a growth of 10.24% over the revenue of the previous quarter of Rs 235.76 crores. The Earnings before Interest Depreciation and Taxes (EBIDTA) for the quarter stood at Rs 62.48 crores against Rs 51.69 crores in the previous quarter recording a growth of 20.85%, growing at a rate higher than the rate of growth in revenue.

Operating EBIDTA margin for the quarter stood at 24.04% as compared to 21.93% in the previous quarter and 17.00% in the corresponding quarter of the previous year (excluding one-time revenues). Overall, the quarterly performance ended on a strong note with a positive Profit after Tax (PAT).

For the nine-month period on a consolidated basis, the Company recorded a very healthy Operating EBIDTA of Rs 149.76 crores as compared to Rs 140.37 crores (excluding one-time revenues) thereby clocking a growth of 6.69%. Operating EBIDTA margin for the nine-month period stood at 20.90% as compared to 18.50% for the corresponding nine months of the previous year (excluding the one-time revenue).

Commenting on the Q3 performance, Vynsley Fernandes, Media Group Chief Executive Officer, NXTDIGITAL Ltd. said "The organisation laid greater emphasis on implementation of the converged media strategy in the quarter gone by. We looked to leverage our video subscriber base to grow our broadband business whilst driving cross-selling and strategic alliance partnerships in key cities. Our deeper engagement with our franchisees and a focus on providing innovative packaging has continued to keep us on the growth course, especially in key semi-urban markets where we have a significant presence."

Shares of NXTDIGITAL Ltd. was last trading in BSE at Rs.547.55 as compared to the previous close of Rs. 529.95. The total number of shares traded during the day was 161 in over 60 trades.

The stock hit an intraday high of Rs. 552.5 and intraday low of 517.55. The net turnover during the day was Rs. 87364.

Source : Equity Bulls

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