NDTV reports PAT of Rs27.60cr in Q3FY22; stock skyrockets ~20%

10 Feb 2022 , 01:10 PM

National New Delhi Television Ltd. (NDTV) is trading in the upper circuit today after its announcement of robust performance for the quarter and nine months ended December 2021. Its stock is currently trading at Rs140.85, up by Rs23.45 or 19.97% against its previous closing price of Rs117.40. It is currently near its 52-week high of Rs142.90 and has touched day’s high and low of Rs140.85 and Rs121.55 respectively.

NDTV informed investors that this is the most profitable quarter in the last nine years as TV revenue hits new profit records. The television arm of the company managed to double its year-to-date profit, which stands at Rs41.4cr. Also, its digital arm, NDTV Convergence Limited, (“Convergence”), has clocked its highest-ever revenue in Q3.

The company has reported a profit of Rs27.60cr for the quarter ended December 2021 against a profit of Rs20.30cr for the previous corresponding quarter, reflecting a growth of 36% yoy. Whilst PAT for the 9-month period ended December 2021 stood at Rs55.60cr against Rs44.80cr for the previous corresponding period, registering 24.10% yoy growth.

NDTV’s financial position has further strengthened: external liabilities for the Group have decreased by Rs69.2cr so far in this financial year; bank borrowings for the Group have also shrunk by Rs42.8cr year-to-date.

The company managed to widen its profits amidst many difficulties post by the pandemic. NDTV’s entire team has given outstanding performance during the quarter, even by putting themselves at risk, and the company is deeply grateful for their contributions, said the company in its press release.