Its revenue from operations fell to Rs 93.67 crore compared to Rs 102.5 crore. Total expenses fell to Rs 85.03 crore from Rs 95.3 crore. Operating profit from the television segment fell to Rs 19.09 crore as against Rs 20.35 crore. Segment revenue declined to Rs 92.23 crore from Rs 100.5 crore.
NDTV said that its digital company, NDTV Convergence, which is at the core of its business operations and strategy, remains a market leader in the online news space with its 14th consecutive profitable quarter.
The group’s profit for the financial year so far marks a turnaround of Rs 17.86 crore over the corresponding period for the last year.
The group said its current liabilities exceed its current assets by Rs 85.95 crore. NDTV further said that its ability to continue as a going concern is significantly dependent on meeting its long-term and short-term working capital requirements, ability to repay overdue payables, management’s implementation of initiatives like rationalising costs, initiatives to improve ad revenue which are under pressure, negotiating extended credit terms with lenders and suppliers, sale/divestment of non-core businesses and building efficiencies in collections.
The broadcaster has proposed to sell subsidiary proceeds of which will positively impact the cash flow. The company also stated that it has a tax receivable of Rs 120.63 crore as of 31st December 2019.
The company and its subsidiary NDTV Convergence have sold 100% of their investment held in Fifth Gear Ventures Ltd for cash consideration of Rs 6.93 crore each totaling up to Rs 13.86 crore. Fifth Gear Ventures has ceased to be the company’s subsidiary with effect from 27th January.