MUMBAI: NXTDIGITAL Ltd on Monday reported its financial results for the third quarter and nine months ended 31 December 2019. On a consolidated basis, the company reported a total income of Rs 938.68 crore for the nine months ended 31 December, 2019 as against a total income of Rs 527.36 crore for the corresponding period of the previous year recording a growth of close to 78 per cent.
For the same period, the company reported a Profit After Tax of Rs 100.10 crore as against a loss of Rs 344.04 crore for the corresponding period of the previous year. The company reported a consolidated net profit after tax of Rs 33.63 crore for the quarter as against a net loss after tax of Rs 122.84 crore for the quarter ended December 31, 2018.
The company claims that the main growth driver has been the smart turnaround of the media business of the company carried out through its significant subsidiary IndusInd Media & Communications Limited (“IMCL”). IMCL is one of India’s leading digital content distribution companies, delivering digital content via cable as well as through satellite on its Headend-In-The-Sky (HITS) platform - through a vast network of established Local Cable Operators.
IMCL continues to set the trend for innovation, driven by its superior HITS technology that delivers nearly 700 television services to consumers in the most remote regions across India; irrespective of the weather or terrain.
“The vision and mission of the government viz. ‘Digital India’, ‘Skill India’ and ‘Make in India’ is embodied in our principles for success. We are proud to partner with over 50,000 individuals comprising Local Cable Operators and their teams across India - who are well trained and skilled in digital service delivery; whilst employing world-class yet native technology at our partners premises. This remains a significant edge in our endeavor to perform.” IMCL chief executive officer Vynsley Fernandes says.
Recently, several multi-system operators (MSOs), including one of India’s biggest has signed up for managed services via IMCL’s HITS platform - in semi-urban and rural markets. To support the MSO’s regional requirements, IMCL is augmenting its satellite capacity that will allow it to carry a greater number of regional channels. “Our HITS platform was designed specifically to help MSOs and LCOs deliver services across India seamlessly; with excellent uptimes and a high quality of service, through significant investments in technology. This will encourage infrastructure sharing - to ultimately bring down cost of operations and ensure customers across the country benefit from the quality of service, the choice of channels and the effective delivery pricing,” says Fernandes.
On the satellite front, IMCL continues to remain the leader in innovation. After being the first satellite platform in the world to adopt and implement 16APSK modulation in 2016 – which ensures a higher throughput and optimal use of satellite capacity; IMCL is currently implementing the next generation 32APSK technology; cementing its leadership position globally, in technology lead.
IMCL has recorded profits consistently over the last four quarters driven by its focused business strategy of growth in size - in the smaller towns and villages; and growth in ARPU through value added services and other offerings in the metro towns and cities. Consumer viewership experience and quality of service continue to drive IMCL’s business strategy as is evidenced by the very low customer churn ratio and pre-paid collection percentages at close to 100% per cent.
