NEW DELHI: New Delhi Television Ltd (NDTV) reported an 87.06 per cent increase in consolidated net profit at Rs 22.69 crore for the quarter ended 31 December 2020.

The company had posted a net profit of Rs 12.13 crore during the October-December period a year ago, NDTV said in a BSE filing.

Consolidated revenue from operations rose 11.73 per cent to Rs 109.82 crore during Q3, as against Rs 98.29 crore in the corresponding period of the previous fiscal.

"Overall, this is the NDTV Group's best quarterly result in the last eight years," the company said in an earnings statement.

Total expenses were at Rs 82.4 crore in Q3 FY 2020-21, down 3.09 per cent from Rs 85.03 crore earlier.

The company posted an operating profit of Rs 32.64 crore from the television media and related operations segment 

NDTV Convergence, the company's digital arm, marked its best quarter ever with a profit of more than Rs 10 crore; its revenue increased by 32 per cent over the same quarter last year.

The e-commerce/retail segment reported nil revenue.

Despite the business challenges thrown up by the pandemic, the company has so far in this financial year reduced its bank borrowings by Rs 27 crore.

It further stated that the management is aware that the financial challenges of an economic slowdown continue to linger, with advertising yet to recover to pre-Covid levels; it is focused on mitigating any risk presented by this for the next few quarters.