Latest News | NDTV Loss Widens in Q3 at Rs 55.48 Cr
Get latest articles and stories on Latest News at LatestLY. Media network NDTV Ltd on Saturday reported a widening of consolidated loss to Rs 55.48 crore in the third quarter ended December 31, 2024, impacted by higher expenses.
New Delhi, Jan 25 (PTI) Media network NDTV Ltd on Saturday reported a widening of consolidated loss to Rs 55.48 crore in the third quarter ended December 31, 2024, impacted by higher expenses.
The company had posted a consolidated loss of Rs 10.16 crore in the same quarter last fiscal, NDTV said in a regulatory filing.
Consolidated revenue from operations in the quarter under review stood at Rs 132.74 crore compared to Rs 97.95 crore in the year-ago period, the company said.
Total expenses in the third quarter were higher at Rs 187.72 crore as compared to Rs 110.23 crore in the same period a year ago, it added.
During the quarter, production expenses and cost of services were higher at Rs 54.87 crore as compared to Rs 36.78 crore in the year-ago period and employee benefits expense was also higher at Rs 42.87 crore as compared to Rs 33.88 crore in the same period a year ago.
"The strong revenue performance was driven by increased advertising revenue, and the success of high-profile events and digital initiatives," the company said.
Commenting on the third quarter performance, NDTV Executive Director and Editor-in-Chief Sanjay Pugalia said, "Q3 was a pivotal quarter for NDTV as we continued to build our global presence with initiatives like the NDTV World Summit and the launch of NDTV World.
While short-term profit was impacted by strategic investments, we are confident these efforts will drive substantial growth in the future."
During the quarter, NDTV said it made significant strides in expanding its content offerings and global reach with the launch of NDTV World, a global news platform designed to serve the diverse diaspora around the globe.
The platform offers high-quality news, in-depth analysis, and programming tailored to global audiences while bringing an Asian and Indian perspective to international markets, it noted.
"With the continued investments in creating new IPs, expanding its global distribution footprint, and scaling its digital and television operations, the company witnessed an impact on the profit," the company said.
However, these investments are expected to generate significant returns in future as NDTV continues to build its global presence and diversify its revenue stream, it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)