India’s premier integrated digital platforms company NXTDIGITAL Limited
, the media vertical of the Hinduja Group, with a presence in digital cable, satellite (HITS), broadband and content syndication on Thursday announced its results for the quarter and half year ending September 30, 2021.
The company said in a filing that on a consolidated basis, the revenue for H1FY22 grew by a healthy 15.48% to Rs543.42cr from Rs470.58cr for the corresponding period of the previous year.
The company clocked a consolidated Earnings Before Interest, Depreciation, and Taxes (EBIDTA) of Rs102.89cr for H1FY22 as compared to an EBIDTA of Rs102.06cr in H1FY21.
At around 10.18 am, NXTDIGITAL Limited was trading at Rs382.00 per piece down Rs0.15 or 0.04% on the BSE.
“The significant increase in revenue coupled with a stable EBIDTA is reflective of the company’s product portfolio-based strategy and aggressive growth plans with a clear focus on positive cashflows both - on the video and data side of its businesses; ensuring that growth is funded by cash flows generated by the business,” company said.
For the quarter ended September 30, 2021, the company clocked a consolidated revenue of Rs276.83cr vis-à-vis Rs266.59cr for the sequential quarter ended June 30, 2021 and Rs235.76cr for the second quarter of the previous financial year, maintaining its trend of healthy revenue growth at 17.38% yoy.
The company clocked a consolidated EBIDTA of Rs51.63cr for Q2FY22, vis a vis Rs51.26cr for Q1FY22 and Rs51.70cr for Q2FY21.
“Continuing the positive steps taken by company in disposing off its non-core assets to reduce debt, it has sold land held by it in Hyderabad for a total consideration of Rs69.30cr, originally acquired at an approximate cost of Rs25cr.
“All business verticals continue to grow. Whilst the broadband business segment has crossed 720,000 subscribers, NXTDIGITAL has launched 40 future-ready NXTHUBs across the country – each with digital capability of providing video, broadband and other emerging solutions including OTT and WiFi.
“Our performance in the first half of this fiscal reflects the Company’s focus on growth, gradually emerging out of the challenges of the pandemic that still have a bearing on the media and entertainment industry. Our strategy for the rest of this fiscal is premised on leveraging the strength of our solutions and our pan-India footprint of touch-points. With a network of NXTHUBs offering a host of digital services – ranging from video and broadband, to OTT and WiFi; and layered by our growth in our broadband base and our infrastructure sharing platform – we believe we will not just see growth but also unlock value across our media businesses,” Vynsley Fernandes, Managing Director & CEO of NXTDIGITAL Limited, said.
Growth Drivers in Q3 & Q4
NXTDIGITAL will continue on its aggressive growth strategy focusing on three key verticals viz. expanding its footprint through another 60 NXTHUBs; continuing to grow its broadband base through a mix of combo products, organic and inorganic growth; and operationalising the infrastructure sharing model, which has now secured all necessary permissions to become India’s first digital content distribution PaaS platform.