NDTV surges 18% on posting highest-ever net profit in nine years in Q3

Shares of New Delhi Television (NDTV) surged 18 per cent to Rs 138 on the BSE in Thursday's intra-day trade after the company reported a consolidated net profit of Rs 27.6 crore in December quarter (Q3FY22). NDTV said its Q3 was the most profitable quarter for the Group in the last nine years. The company had posted profit of Rs 20.3 crore in the year-ago quarter (Q3FY21).

For the third quarter (Q3), the television arm of the company, NDTV, has recorded a profit of Rs 17.3 crore, Rs 6.8 crore higher than the same time last year. The television branch has doubled its year-to-date profit, which stands at Rs 41.4 crore. This is an all-time best for the TV branch, the company said.

In Q3FY22, the company's revenue from operations grew 10 per cent year-on- year (YoY) at Rs 116.36 crore against Rs 105.83 crore in Q3FY21.

NDTV said its financial position has further strengthened: external liabilities for the Group have decreased by Rs 69.2 crore so far in this financial year; bank borrowings for the Group have also shrunk by Rs 42.8 crore year-to-date, the company said.

On standalone basis, NDTV, the television arm of the group, rose 64 per cent YoY at Rs 17.30 crore in Q3FY22 as against profit of Rs 10.53 crore in Q3FY21. Given the continuing profits during the current and previous quarters, the working capital position of the Company has further improved. Based on the current business plan and projections prepared by the management the Company expects further growth in operations, NDTV said result note.

At 10:45 am, the stock was 14 per cent higher at Rs 134.15 on the BSE, as compared to 0.75 per cent rise in the S&P BSE Sensex. Trading volumes on the counter jumped an over four-fold with a combined 1.01 million shares having changed hands on the NSE and BSE.