Digital platforms company NXTDIGITAL Limited, the media vertical of the Hinduja Group, Wednesday announced the financial results for the 12 months ending March 31, 2022, and Q4 of FY22 where data showed that consolidated revenue for the twelve-month grew by 14.3 percent to Rs 1,152.19 crore, up from Rs 1,008.45 crores for the corresponding period of the previous year.

The company said it continues to maintain a robust EBIDTA for the 12 months at Rs 256.22 crores, up 10.4 percent against Rs 232.08 in the last fiscal.

The Revenue and EBIDTA for the year include Rs 69.30 crores and Rs 43.88 crores respectively arising out of the “Real Estate” segment of the Company.

The consolidated Profit After Tax (PAT) for the year ending March 31, 2022, is Rs 1.91 crores as against a loss of Rs (13.90) crores in the previous year.

During the quarter ended March 31, 2022, the Company posted consolidated revenue of Rs 344.55 crores as against 277.97 crores in the corresponding quarter of the previous year and Rs 264.21 crores in the immediately preceding quarter. The Company clocked an EBIDTA of Rs 100.41 crores for the quarter as against Rs 67.54 crores in the corresponding quarter of the previous year and Rs 52.92 crores in the immediately preceding quarter. The Revenue and EBIDTA for the quarter include Rs 69.30 crores and Rs 43.88 crores respectively arising out of the “Real Estate” segment of the Company.

The Media & Entertainment segment recorded an EBIDTA of Rs 56.53 crores for the quarter against Rs 52.92 crores in the immediately preceding quarter.

The Consolidated PAT for the quarter ending March 31, 2022, stood at Rs 84.46 crores as against Rs 13.92 crores in the corresponding quarter of the previous year and a loss of Rs (26.57) crores in the immediately preceding quarter. The PAT for the quarter is inclusive of the profit from the “Real Estate” segment of the Company.

Dividend

Acknowledging the unstinted support of the shareholders, the Board of Directors of the Company at their meeting held on 18th May 2022, have recommended a 40 percent dividend i.e. a dividend of Rs 4 per equity share of the face value of Rs 10 each, subject to shareholder’s approval.

Growth Drivers in FY22

NXTDIGITAL has continued to remain focused on its mission of a complete digital transformation, which has been accelerated over the last fiscal across all its divisions. Some of the initiatives that have contributed to the growth and the emergence of NXTDIGITAL as a significant player in the media and communications industry in India include:

Focus on driving broadband penetration not only organically across the existing footprint but also through a unique strategic alliance partner model that has helped the company scale the 1 million customer mark.

Achieving a first by launching its “combo” product to address changing consumer preferences, a solution that offers up to 650 TV services + broadband, with speeds up to 1,000Mbps + up to 300,000 hours of OTT content from leading international and regional platforms.

Expanding its national footprint through its award-winning and future-ready NXTHUBs – each with the capability to offer digital TV, broadband, OTT, and other emerging services. This has helped the company maintain its growth in digital video subscribers.

Vynsley Fernandes, Managing Director, and CEO at NXTDIGITAL says, “We have remained singularly focused on the changing consumer preferences, in no small measure impacted by the lockdown periods; and have accelerated our digital transformation in line with the same. Our performance across all segments of our business reflects that mission. Offering a “combo” of digital television, broadband and OTT is now our norm, rather than the exception; whilst we will continue to expand our footprint through the launch of more NXTHUBs”.

Update on the Demerger of Digital, Media & Communications Business Undertaking of the Company into Hinduja Global Solutions Limited

The Board of Directors of the Company, at their meeting held on February 17, 2022, had, inter-alia, accorded approval to the Demerger of Digital, Media &Communications Business Undertakingalong with the investments in its subsidiaries of the Company vide a Draft Scheme of Arrangement between NXTDIGITAL Limited (the “Demerged Company” or “NDL”) and Hinduja Global Solutions Limited (the “Resulting Company” or “HGS”) and their respective shareholders. The said Scheme/Demerger is subject to necessary approvals of statutory/regulatory authorities and approval of shareholders. The Company has made applications to the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) on February 25, 2022, and February 26, 2022, respectively for seeking their No Objection on the Scheme of Arrangement under Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 for proposed Scheme of Arrangement. The clearance is awaited.

Update on the merger of Hinduja Leyland Finance Limited with the Company

The Board of Directors of the Company, at their meeting held on March 16, 2022, had inter-alia,
accorded in-principle approval on the Scheme of Arrangement i.e. Merger of Hinduja Leyland Finance Limited with the Company. The said Scheme/Merger is subject to necessary approvals of statutory/regulatory authorities and approval of shareholders. The necessary process on this is on.