New Delhi, October 23, 2024 — New Delhi Television Limited (NDTV) has announced its financial results for the second quarter ending September 30, 2024. The company reported a net loss of ₹46.75 crore, a significant reversal from the net profit of ₹5.91 crore recorded in the same period last year.
Decline in Revenue Amid Rising Costs
The total revenue for the quarter stood at ₹93.92 crore, a slight decrease of 1.71% compared to ₹95.55 crore in Q2 of the previous fiscal year. On a quarter-on-quarter basis, the revenue remained flat with no growth observed.
Operating expenses have surged, with Selling, General, and Administrative (SG&A) expenses increasing by 31.52% year-on-year to ₹85.03 crore, up from ₹64.65 crore. This rise in operational costs has contributed to the company’s declining profitability.
Sharp Drop in Operating Income and EPS
Operating income witnessed a steep decline, plummeting by 2044.31% year-on-year. The company reported an operating loss of ₹47.83 crore this quarter, contrasting sharply with the operating profit of ₹2.46 crore in the same quarter last year.
Earnings Per Share (EPS) fell dramatically to a negative ₹7.25, down by 888.04% from ₹0.92 in Q2 FY23. This significant decrease highlights the challenges NDTV is facing in maintaining profitability.
Stock Performance Reflects Company Challenges
Over the past week, NDTV’s stock price has declined by 5.08%. The stock has dropped by 29.54% over the past six months and is down by 36.99% year-to-date. The company’s market capitalization currently stands at ₹1,065.9 crore.
The stock reached a 52-week high of ₹307.85 and a low of ₹162, indicating considerable volatility in its market performance amid a competitive media landscape.
Financial Summary (₹ in Crore)
| Financial Metrics | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 93.92 | 93.92 | 0% | 95.55 | -1.71% |
| SG&A Expenses | 85.03 | 85.03 | 0% | 64.65 | +31.52% |
| Depreciation/Amortization | 2.32 | 2.32 | 0% | 2.26 | +2.65% |
| Total Operating Expenses | 141.75 | 141.75 | 0% | 93.09 | +52.27% |
| Operating Income | -47.83 | -47.83 | 0% | 2.46 | -2044.31% |
| Net Income Before Taxes | -47.02 | -47.02 | 0% | 5.62 | -936.65% |
| Net Income | -46.75 | -46.75 | 0% | 5.91 | -891.03% |
| Diluted EPS | -7.25 | -7.25 | 0% | 0.92 | -888.04% |
Looking Ahead
The financial results underscore the challenges NDTV is currently facing, including declining revenues and rising operational costs. The company will need to implement strategic measures to improve its financial performance and regain investor confidence in the upcoming quarters
