NXTDigital reports Rs. 543 cr. consolidated revenue H1-22
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2 years ago 06:03:35am Television

NXTDigital reports Rs. 543 cr. consolidated revenue H1-22

New Delhi, 13-October-2022, By IBW Team

NXTDigital Q2 performance stable; readies b’band-over-satellite launch

NXTDigital Ltd, the media business of the Hinduja Group, reported 15.48 percent increase in consolidated revenues to Rs 543.42 crore for the half-year ending September 30, 2021, up from Rs. 470.58 crore for the previous corresponding period.

Pointing out that the company continued to maintain a robust EBIDTA at Rs. 102.89 crore for the half year, it said the Q2 ended with a 17.38 percent YoY revenue growth, closing at Rs. 276.83 crore against Rs. 
235.76 crores in Q2 of the previous fiscal.

The significant increase in revenue coupled with a stable EBIDTA is reflective of the company’s strategy and aggressive growth plans with a clear focus on positive cash flows across business verticals, ensuring growth is funded by cash generated by the business, the company said in a statement.

The company claimed that all business verticals continue to grow. While the broadband business segment has crossed 720,000 subscribers, NXTDIGITAL has launched 40 future-ready NXTHUBs across the country, each with digital capability of providing video, broadband and other emerging solutions, including OTT and WiFi.

For the quarter ended September 30, 2021, the company clocked a consolidated revenue of Rs 276.83 crore vis-à-vis Rs 266.59 for the sequential quarter ended June 30, 2021 and Rs 235.76 crore for the second quarter of the previous financial year, maintaining its trend of healthy revenue growth at 17.38 percent year-on-year.

According to Vynsley Fernandes, MD & CEO of NXTDigital Ltd., “Our performance in the first half of this fiscal reflects the company’s focus on growth, gradually emerging out of the challenges of the pandemic that still have a bearing on the media and entertainment industry. Our strategy for the rest of this fiscal is premised on leveraging the strength of our solutions and our pan-India footprint of touch-points.

“With a network of NXTHUBs offering a host of digital services – ranging from video and broadband, to OTT and WiFi; and layered by our growth in our broadband base and our infrastructure sharing platform, we believe we will not just see growth but also unlock value across our media businesses”.

The company said it would continue on its aggressive growth strategy focusing on three key verticals —expanding its footprint through another 60 NXTHUBs; continuing to grow its broadband base through a mix of combo products and operationalising the infrastructure sharing model, which has now secured all necessary permissions to become India’s first digital content distribution PaaS platform.

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