NDTV Limited has reported a net loss of Rs 22 crore in the first quarter of the financial year ending June 30, 2017, against a net loss of Rs 42 crore in the corresponding quarter last year.
The consolidated revenue stood at Rs 109 crore compared to a loss of Rs 108 crore while the company’s EBITDA loss was reduced from Rs 21 crore last year same quarter to Rs 2 crore in current quarter due to improved contributions from the digital business, cost reduction initiatives, improved productivity and reduction of losses in e-commerce business.
The revenue from TV and allied businesses dropped to Rs 77 crore from last year’s Rs 93 crore while EBITDA loss grew to Rs 13 crore from Rs 11 crore in the same quarter last year. The net loss improved to Rs 19 crore in Q1’18 against a loss of Rs 26 crore last year.
The revenue of the company’s digital business, NDTV Convergence, jumped by 65% to Rs 38 crore from Rs 23 crore in the same quarter last year. It turned profitable this quarter and reported a net profit of Rs 7 crore compared to a loss of Rs 3 crore in the same quarter last year.
The company’s e-commerce business also narrowed the loss in this quarter to Rs 2 crore as compared to Rs 7 crore in the corresponding quarter of last year.