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NDTV Q2 FY27 results: net loss narrows to ₹63.51 crore, revenue up 5.9%
NDTV LTD reported consolidated revenue of ₹129.47 crore in Q2 FY27, up 5.9% from Q2 FY26, while the net loss narrowed to ₹63.51 crore from ₹74.01 crore. EBITDA was a loss of ₹50.44 crore and the EBITDA margin was -39.0%, compared with -46.5% in the year-ago quarter; basic EPS was -₹5.61.
Key points
- Revenue was ₹129.47 crore in Q2 FY27, up 5.9% from ₹122.27 crore in Q2 FY26 and 10.4% from ₹117.23 crore in Q1 FY27.
- The net loss narrowed by ₹10.50 crore year on year to ₹63.51 crore and by ₹18.37 crore sequentially from ₹81.88 crore.
- EBITDA loss improved to ₹50.44 crore from ₹56.87 crore in Q2 FY26 and ₹67.74 crore in Q1 FY27; the EBITDA margin was -39.0%.
- Basic EPS improved to -₹5.61 from -₹11.49 in Q2 FY26 and -₹7.24 in Q1 FY27.
- Total expenses were ₹198.50 crore, including employee cost of ₹50.30 crore, finance costs of ₹7.69 crore and depreciation of ₹10.90 crore; there was no exceptional item.
How did NDTV perform in Q2 FY27?
NDTV’s consolidated revenue from operations was ₹129.47 crore in Q2 FY27, up ₹7.20 crore, or 5.9%, from ₹122.27 crore in Q2 FY26. It rose ₹12.24 crore, or 10.4%, from ₹117.23 crore in Q1 FY27. Total income was ₹134.34 crore, against ₹124.96 crore a year earlier and ₹119.96 crore in the preceding quarter. The results were announced on 26 October 2026.
On a consolidated basis, EBITDA was a loss of ₹50.44 crore in Q2 FY27, compared with a loss of ₹56.87 crore in Q2 FY26 and ₹67.74 crore in Q1 FY27. The EBITDA margin improved 7.5 percentage points year on year to -39.0% and 18.8 percentage points sequentially from -57.8%. Profit before tax was a loss of ₹64.16 crore, and the net loss was ₹63.51 crore, narrowing from ₹74.01 crore and ₹81.88 crore, respectively.
Basic EPS was -₹5.61 in Q2 FY27, compared with -₹11.49 in Q2 FY26 and -₹7.24 in Q1 FY27. On a standalone basis, revenue was ₹83.44 crore, up 31.5% year on year, while the net loss was ₹59.03 crore and profit before tax was a loss of ₹70.39 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 129.47 | 117.23 | 122.27 | +5.9% | +10.4% |
| Other income | 4.87 | 2.73 | 2.69 | +81.0% | +78.4% |
| Total expenses | 198.50 | 201.56 | 197.90 | +0.3% | −1.5% |
| EBITDA | −50.44 | −67.74 | −56.87 | ||
| EBITDA margin | -39.0% | -57.8% | -46.5% | +7.5 pp | +18.8 pp |
| Profit before tax | −64.16 | −81.60 | −72.94 | ||
| Tax | 0 | 0 | 1.32 | ||
| Net profit | −63.51 | −81.88 | −74.01 | ||
| EPS (₹) | −5.61 | −7.24 | −11.49 |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in NDTV's costs and profit?
Total expenses were ₹198.50 crore in Q2 FY27, ₹0.60 crore higher than Q2 FY26 and ₹3.06 crore lower than Q1 FY27. Employee cost rose ₹3.83 crore, or 8.2%, year on year to ₹50.30 crore, while finance costs fell ₹2.24 crore, or 22.6%, to ₹7.69 crore. Depreciation increased ₹2.07 crore, or 23.4%, to ₹10.90 crore, and other expenses declined ₹3.06 crore, or 2.3%, to ₹129.61 crore.
Other income rose ₹2.18 crore, or 81.0%, to ₹4.87 crore from ₹2.69 crore in Q2 FY26. Tax expense fell by ₹1.32 crore to no tax expense in Q2 FY27, compared with ₹1.32 crore a year earlier. There was no exceptional item in either quarter. The filing does not state a reason for the movement in employee costs, finance costs, depreciation or other expenses.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 50.30 | 46.47 | +3.83 | +8.2% |
| Finance costs | 7.69 | 9.93 | −2.24 | −22.6% |
| Depreciation | 10.90 | 8.83 | +2.07 | +23.4% |
| Other expenses | 129.61 | 132.67 | −3.06 | −2.3% |
| Total expenses | 198.50 | 197.90 | +0.60 | +0.3% |
| Other income | 4.87 | 2.69 | +2.18 | +81.0% |
| Tax | 0 | 1.32 | −1.32 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹719.91 crore, compared with ₹704.21 crore at 31 March 2026. Total equity moved to negative ₹14.91 crore from ₹129.16 crore, while borrowings rose to ₹295.08 crore from ₹186.02 crore and cash fell to ₹5.15 crore from ₹14.88 crore. Trade receivables were ₹170.45 crore, compared with ₹160.34 crore, and trade payables were ₹215.78 crore against ₹165.40 crore.
For the first half of FY27, operating cash flow was negative ₹89.32 crore, compared with negative ₹31.89 crore in H1 FY26. Investing cash flow was negative ₹16.92 crore against negative ₹10.28 crore, while financing cash flow was ₹96.51 crore against ₹115.84 crore. Capital expenditure was ₹20.22 crore, compared with ₹16.90 crore in the year-ago period. The board also approved raising funds through unsecured, non-convertible perpetual debentures of up to ₹800 crore on private placement, subject to regulatory or statutory approvals.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 719.91 | 704.21 |
| Total equity | −14.91 | 129.16 |
| Borrowings | 295.08 | 186.02 |
| Cash and equivalents | 5.15 | 14.88 |
| Inventories | 0 | 0 |
| Trade receivables | 170.45 | 160.34 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −89.32 | −31.89 |
| Cash from investing | −16.92 | −10.28 |
| Cash from financing | 96.51 | 115.84 |
| Capital expenditure | 20.22 | 16.90 |
Source: Company's results filing (XBRL).
How has NDTV done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. It reached ₹150.41 crore in Q3 FY26, before falling to ₹117.23 crore in Q1 FY27 and recovering to ₹129.47 crore in Q2 FY27. The lowest quarterly revenue in the series was ₹107.65 crore in Q1 FY26.
The net loss was ₹98.57 crore in Q4 FY26, the highest loss in the series, and narrowed to ₹81.88 crore in Q1 FY27 and ₹63.51 crore in Q2 FY27. The EBITDA margin improved from -57.8% in Q1 FY27 to -39.0% in Q2 FY27, after reaching -57.2% in Q4 FY26. The lowest margin in the series was -57.8% in Q1 FY27.
How did NDTV shares react?
The filing appeared after market hours, and the stock initially fell 1.1% five minutes after the results. It was up 1.9% after 15 minutes and 0.8% after 30 minutes. On the reaction day, it closed 3.2% above its pre-results close of ₹61.05. By the next day's close, it was up 1.4% from that close, and by five sessions later it was up 1.0%.
The industry median move was 1.0% on the reaction day, 0.6% by the next close and 0.1% by five sessions. NDTV therefore exceeded the industry median by 2.2 percentage points on the reaction day, 0.8 percentage points by the next day's close and 0.9 percentage points after five sessions. Earlier results-day reactions were negative on 21 July 2026, 29 April 2026, 28 January 2026, 29 October 2025, 25 July 2025 and 25 April 2025.
| After the filing | Stock | TV Broadcasting & Software Production median |
|---|---|---|
| 5 minutes | −1.1% | |
| 15 minutes | +1.9% | |
| 30 minutes | +0.8% | |
| Reaction day | +3.2% | +1.0% |
| Next day | +1.4% | +0.6% |
| 5 days | +1.0% | +0.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 21 July 2026 | −4.6% |
| 29 April 2026 | −3.6% |
| 28 January 2026 | −1.6% |
| 29 October 2025 | −1.1% |
| 25 July 2025 | −4.1% |
| 25 April 2025 | −0.3% |
| 25 January 2025 | −5.7% |
| 23 October 2024 | +0.0% |
Source: MarketPing price-reaction measurement.
How did other TV Broadcasting & Software Production companies do?
Seven other TV Broadcasting & Software Production companies filed for the quarter, with a median revenue growth of -3.7%. Of these, six companies grew more slowly than NDTV, while one grew faster than NDTV. Profit was higher for three of the seven peers, compared with seven peers assessed for profit.
| NDTV revenue growth (YoY) | +5.9% |
|---|---|
| Median of 7 other TV Broadcasting & Software Production companies | −3.7% |
| Companies with slower revenue growth than NDTV | 6 of 7 |
| Companies with faster revenue growth than NDTV | 1 of 7 |
| Companies whose net profit rose | 3 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was NDTV's revenue in Q2 FY27?
Revenue from operations was ₹129.47 crore, up 5.9% from ₹122.27 crore in Q2 FY26 (consolidated).
Did NDTV make a profit in Q2 FY27?
No. It reported a net loss of ₹63.51 crore, against a net loss of ₹74.01 crore in Q2 FY26.
What was NDTV's EPS in Q2 FY27?
Basic loss per share was ₹5.61, against a loss of ₹11.49 in Q2 FY26.
How did NDTV shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.2% from the previous close; the median TV Broadcasting & Software Production stock moved +1.0%.
When did NDTV announce its Q2 FY27 results?
On 26 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of The Un-Audited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 6 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On October 26, 2026 (BSE, 26 October 2026) · PDF
- Un-Audited Standalone & Consolidated Financial Results For The Second Quarter And Half Year Ended September 30, 2026 (BSE, 26 October 2026) · PDF
- Announcement under Regulation 30 (LODR)-Raising of Funds (BSE, 26 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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