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NDTV posts highest profit ever in a decade, Roys says in FY22 annual report

Media company New Delhi Television (NDTV) posted its highest ever consolidated profit at group level in more than a decade for the financial year 2021-22 (FY22), co-chairmen Radhika Roy and Prannoy Roy said in the company’s latest annual report.

Speaking to shareholders, the Roys, founder-promoters of NDTV, said the company had become financially strong in FY22, continuing the turnaround of the past few years.

“The TV and Digital arms of NDTV Group recorded their highest profit ever. NDTV Ltd (TV arm) recorded a profit of Rs 59.18 crore. 30.21 crores, achieving its highest revenue in history. This underscores that it remains one of the few profitable online companies in India,” Roys said.

Consolidated profit of NDTV Group stood at Rs 84.76 crore for FY22 against revenue or total revenue of Rs 420.89 crore for the period. Earnings growth over the previous year was 13.22%, while revenue growth was 3.18% over the previous year.

NDTV Ltd, which is currently in the midst of a battle for control, saw FY22 profits jump 55.77% from a year earlier, in part thanks to a bumper 6.88 gain crores of rupees from the sale of the company’s stake in MobiKwik Systems during the year. . While FY22 revenue growth (of NDTV Ltd) stood at 8.9% over last year, reaching Rs 262.12 crore for the period.

The company did not specify the turnover of NDTV Convergence, its subsidiary, for the period under review. However, the annual report states that NDTV Convergence was chosen to be one of the first partners of the Google News initiative which was rolled out in April 2021. It was also one of the first and large partners of the application of native social media Koo.

“On social media, NDTV’s followings remain premium. NDTV is the most popular news manager on Twitter with over 17 million followers in India as of April 2022. With almost 12 million followers for the channel NDTV’s YouTube, we have the highest subscriber base for any English news publisher in India. NDTV India also saw a 24% growth in subscribers for its Hindi YouTube channel,” said the society.

Apart from that, the company said NDTV videos on online platforms accounted for 5.7 billion views for the year, up 2.5% from the previous year. It also remained the most followed English language news account on Instagram in India. And had signed up as a paid content partner for mobile platforms such as Snap and Glance.

The company also provided an outlook for the future, saying business in the current fiscal year (FY23) will depend on how inflation and the economic environment develop. “Advertising is expected to increase for the festival season and the company is leveraging its leading position in the online space to grow and grow its business,” he said.

All eyes, however, remain on the battle for redemption. In its latest disclosure on Friday, Adani Enterprises, which acquired Vishvapradhan Commercial (VCPL), a lender to NDTV’s promotion company RRPR Holding, said the tentative date for the open offer to acquire a majority stake in NDTV was ” indicative”. It was subject to the approval of the Securities and Exchange Board of India (SEBI) and could be revised accordingly.

The clarification came days after the company announced its tentative open offer date of October 17, saying it was triggered following the acquisition of VCPL and the exercise of its right to convert the shares. warrants held by VCPL into shares in RRPR, which would result in a stake of 29.18. percent in NDTV.