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NDTV posts Rs 6.89 crore net profit in Q1FY21; reverses salary cuts

The company reverses salary cuts of the majority of employees from August 1. The management and other senior employees continue to work with reduced salaries

NDTV Group has posted a profitable quarter ending June 30, 2020, despite the widely-reported impact of the coronavirus pandemic on businesses in India and the media sector in particular.

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The television business of the company, NDTV Limited, has declared profit after tax of Rs 4.42 crore. Of the last nine quarters, the broadcasting business has shown a profit in eight.

The Group's profit after tax for this quarter is Rs 6.89 crore.

With the group building its financial strength, its liabilities (including bank borrowings) have reduced by 95 crores in the last two years.

The Group would like to acknowledge the loyalty and commitment of those employees who took pay cuts for Q1 (the majority of employees have seen these cuts reversed as of August 1; the management and other senior employees continue to work with reduced salaries).

NDTV Convergence, which is the Group's digital business, remains a market leader with huge traffic on account of its credible reporting of the pandemic. Its EBITDA for the quarter was 23%, the same as that of the last quarter (Q4) of FY 2019-20.

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