NDTV clocks 59 pc growth in revenue during fourth quarter
Apr 26, 2024
New Delhi [India], April 27 : NDTV Group announced its financial performance for the fourth quarter of 2023-24, marked by a 59 per cent revenue growth compared to the same period last year.
Revenue during the quarter was at Rs 106.5 crore versus Rs 67.0 crore last year.
NDTV Convergence, the company's digital arm witnessed a significant 39 per cent increase in global digital traffic in March 2024 over April 2023 on its platforms. The NDTV Group informed stock exchanges in a filing that its ability to adapt to evolving consumer preferences and market dynamics has been instrumental in driving this impressive growth.
During the financial year, NDTV expanded its presence across consumer segments with launch of NDTV MP-CG, NDTV Rajasthan, and NDTV Profit.
Additionally, NDTV Marathi is being launched on May 1.
"This strategic expansion drive from a 2 Channel setup to a 6 Channel setup has meant substantial investments in next-generation infrastructure. A cutting-edge broadcast facility in BKC, Mumbai is up and running. Another state-of-art integrated facility will be operational in NCR, Delhi in the coming months," the media group said.
While these investments strengthen future growth objectives, it said they have had an impact on short-term financial performance.
NDTV said it remains committed to creating long-term shareholder value by leveraging its premium brand value to launch new products, expand audience and drive efficiency by investments in technology.
Attrition in the media company was down by 58 per cent from the previous year. It also added high-profile anchors and other top industry talent to its roster.
As the new financial year commences, NDTV continues its expansion momentum with the upcoming launch of its next regional news channel, NDTV Marathi, and reimagining its international offering under, NDTV World, where it features original shows with an Indian perspective catering to a global audience and the Indian diaspora.
