NDTV Q1 FY27: Consolidated Loss Widens 16.5% YoY to ₹81.9 Cr Despite 8.9% Revenue Growth

NDTV's consolidated revenue rose 8.9% YoY to ₹117.23 Cr (from ₹107.65 Cr), but the consolidated net loss widened to ₹81.88 Cr from ₹70.31 Cr a year ago — a 16.5% deeper loss even as the topline grew, meaning cost growth outpaced revenue growth. Sequentially the loss narrowed 16.9% from ₹98.57 Cr in Q4 FY26, but that quarter-on-quarter improvement is largely a seasonal artifact (Q4 revenue of ₹147.96 Cr was 26% higher than this quarter) and should not be read as a turnaround; the YoY deterioration is the primary signal. The margin bridge shows the squeeze is broad-based rather than one line: consolidated NPM (PAT/total income) deepened to -68.3% from -62.5% a year ago and -65.5% last quarter, while OPM (EBITDA/revenue) fell to -57.8% from -53.5% YoY. Total expenses grew to ₹201.56 Cr from ₹182.67 Cr YoY, with production/cost-of-services (₹54.31 Cr) and employee costs (₹49.14 Cr) the largest lines; a ₹4.22 Cr net exceptional item (note 6) also sits in this quarter's consolidated PBT but is too small (~5% of the loss) to explain the YoY swing on its own. Standalone tracked the same direction but at a smaller absolute scale — revenue ₹71.58 Cr, loss ₹76.47 Cr — with the wider consolidated loss reflecting the subsidiary/JV structure. Our records carry no prior management guidance or concall commentary to test this print against, and no formal press release accompanied the exchange filing beyond the procedural board-outcome letter, so there is no management framing to reconcile against the numbers. A web check for street estimates surfaced only after-the-fact reports of these same results, not a pre-results consensus, so vs-street is unknown rather than assumed. Of the quarter's corporate developments, the GoodTimes channel acquisition — already pushed back twice (per the Jun 18 and Jul 17 2026 event records) — has not yet closed and contributed nothing to this print; the SEBI listing-regulations clearance (Jun 2 2026) and AGM e-voting approval are governance items with no direct P&L bearing this quarter.