NDTV Q1 FY27: Consolidated Loss Widens 16.5% YoY to ₹81.9 Cr Despite 8.9% Revenue Growth
PAT -16.46% YoY · revenue +8.9% · margins compressing
₹117.23 Cr
+8.9% YoY
₹-81.88 Cr
-16.46% YoY
-68.26%
-5.8pp YoY
₹-7.24
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.
Q1 FY-2027 vs prior quarters
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.
The stock went into the print at ₹76.66, down 5.6% over the past month of trading.
What the summary numbers don't show
EPS basic ₹-7.24 (consolidated) vs ₹-10.92 a year ago — not like-for-like, as paid-up share capital rose from ₹25.79 Cr to ₹45.13 Cr face value following the Oct 2025 amalgamation of NDTV Networks/Worldwide/Media/Labs into the company
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.
W1
Whether the GoodTimes Channel acquisition (delayed twice, most recently by 3 months as of 17 Jul 2026) closes and starts contributing to revenue/losses next quarter
W2
Whether NPM/OPM stabilize or compress further — both deepened YoY this quarter (NPM -62.5%→-68.3%, OPM -53.5%→-57.8%)
W3
Resolution of the ₹420.36 Cr revised income-tax demand for AY 2008-09 (currently stayed per note 4) — no P&L impact yet but a contingent risk to monitor
Consolidated PBT/PAT include a ₹4.22 Cr net exceptional item (note 6, standalone has none); consolidated PAT of ₹-81.88 Cr splits to owners ₹-81.64 Cr and NCI ₹-0.24 Cr; share count rose (paid-up capital ₹25.79 Cr→₹45.13 Cr face value) after the NDTV Networks/Worldwide/Media/Labs amalgamation effective 1 Oct 2025, so prior-year comparatives are restated and EPS is not like-for-like on share base; all four comparison figures (Q4 FY26 and Q1 FY26 revenue, PAT, EPS) tie exactly to our records.