NDTV Group's best result in over a decade; TV has highest-ever profit

With a profit of ₹ 70.9 crores, the NDTV Group is declaring its best result in over a decade for the financial year ending March 31, 2021.

NDTV Limited, the Group's television company , is recording its best-ever annual result: a profit of ₹ 38 crores for the financial year ending March 31, 2021. This marks a turnaround of ₹ 25 crores over the last financial year.

NDTV Convergence, the Company's digital arm, has recorded the highest revenue and EBITDA in its history, and its biggest-ever profit of ₹ 27.9 crores.

For Q4 or the final quarter of the year, the television company has a profit of ₹ 17.7 crores, making this the most profitable Q4 ever for the Company. The Group has a profit of ₹ 26.1 crores for the same quarter.

The Group has sold majority stake in its online Gadgets business, as disclosed to the exchanges on March 26, 2021. The transaction contributed 8.27% of the Group's revenue and 45.74% of its profit, and it cleared debt and liabilities worth ₹ 30 crores.

The Group's bank borrowings have been reduced in the last financial year by ₹ 50.5 crores. External liabilities have been cut by ₹ 73.3 crores.

NDTV is indebted to every member of its team for their courage and commitment in what has been an exceptionally tough year. The team has reported on every aspect of the pandemic in real-time, operating solely on the principle that news is, in fact, an essential service, and that journalism at this time has a greater responsibility than ever before - to keep people informed and aware of the many challenges we confront as a country. For this exceptional ethos, the Group expresses its deep gratitude to and admiration for - its reporters, camera people, editorial team, engineers, and so many others.

The Management and Board of the Company are well-aware of the business challenges mounting on account of the pandemic, the national lockdown, and now, the series of smaller lockdowns triggered by the deadly second wave. There are daily reports on the impediments to the economy and the fallout on advertising. The Group will operate cautiously in this, the second consecutive year of the pandemic, while endeavoring to remain India's Most-Trusted News Broadcaster.

Shares of NEW DELHI TELEVISION LTD. was last trading in BSE at Rs.74.2 as compared to the previous close of Rs. 71. The total number of shares traded during the day was 27927 in over 287 trades.

The stock hit an intraday high of Rs. 74.55 and intraday low of 72.6. The net turnover during the day was Rs. 2076037.

Source : Equity Bulls

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