NDTV Q2 FY27 Results: Can Losses Continue to Narrow?
About New Delhi Television
New Delhi Television Ltd (NDTV) operates in India's media and news broadcasting sector. Its financial performance is influenced by advertising demand, audience engagement, digital business development, operating expenses and the broader competitive environment.
NDTV's Q2 FY27 consolidated results for the quarter ended September 30, 2026, show a reduction in net and EBITDA losses compared with both the corresponding year-ago quarter and the preceding quarter. Revenue also increased year on year and sequentially.
NDTV reported a consolidated net loss of ₹61.43 crore for Q2 FY27, compared with a loss of ₹76.59 crore in the year-ago quarter and ₹82.64 crore in the preceding quarter.
Revenue reached ₹126.47 crore, increasing 3.44% year on year and 7.88% quarter on quarter. The EBITDA loss narrowed to ₹46.33 crore from ₹57.26 crore a year earlier and ₹67.83 crore in the previous quarter.
These figures indicate an improvement in reported performance. However, NDTV remains loss-making, and the sustainability of the improvement will depend on revenue growth, cost control, operating efficiency and the company's ability to move towards profitability.
NDTV Q2 FY27: Key Highlights
📺 Revenue: ₹126.47 crore, up 3.44% year on year and 7.88% quarter on quarter.
📉 Net loss: ₹61.43 crore, compared with a loss of ₹76.59 crore year on year and ₹82.64 crore quarter on quarter.
📊 EBITDA loss: ₹46.33 crore, compared with ₹57.26 crore in the year-ago quarter and ₹67.83 crore in the preceding quarter.
📈 EBITDA margin: Improved to -36.63%, compared with -46.83% year on year and -57.86% quarter on quarter.
🔎 Key takeaway: Losses have narrowed, but the company has not yet achieved profitability.
The most encouraging aspect of the results is that revenue increased while both net and EBITDA losses declined. This suggests an improvement in the relationship between revenue and reported expenses during the quarter.
Nevertheless, one quarter of improvement does not establish a sustained turnaround. Investors should examine subsequent results to determine whether the trend continues and whether it reflects recurring operating improvements rather than temporary factors.
NDTV Financial Results: Quarterly Comparison
The following table summarises the reported Q2 FY27 performance against the corresponding year-ago quarter and the preceding quarter.
| Financial Metric | Q2 FY27 | Q2 FY26 | Previous Quarter |
|---|---|---|---|
| Revenue | ₹126.47 Cr | Approx. ₹122.27 Cr* | Approx. ₹117.23 Cr* |
| Net loss | ₹61.43 Cr | ₹76.59 Cr | ₹82.64 Cr |
| EBITDA loss | ₹46.33 Cr | ₹57.26 Cr | ₹67.83 Cr |
| EBITDA margin | -36.63% | -46.83% | -57.86% |
*Revenue for the comparison periods is mathematically derived from the reported growth percentages and rounded to two decimal places. It is not independently verified against the company's financial statements.
Revenue Growth: A Positive but Moderate Improvement
NDTV's revenue increased 3.44% year on year to ₹126.47 crore. Sequentially, revenue grew 7.88%, indicating stronger revenue performance compared with the preceding quarter.
For a media company, revenue growth can be influenced by advertising budgets, audience reach, programming, digital engagement and the ability to monetise content across different platforms.
The reported increase is encouraging, but the growth rate remains moderate on a year-on-year basis. Sustained improvement would require NDTV to strengthen its revenue-generating activities while ensuring that additional revenue contributes meaningfully to operating performance.
Investors should look for further details on advertising revenue, digital monetisation, other operating income and business-segment performance in the full results. These details would help establish which activities are contributing to growth.
Net Loss Narrows: Is NDTV Moving Towards Recovery?
NDTV's net loss declined to ₹61.43 crore from ₹76.59 crore in Q2 FY26. Compared with the preceding quarter's ₹82.64 crore loss, the improvement was more pronounced.
Year on year, the net loss narrowed by approximately 19.8%. Quarter on quarter, it narrowed by approximately 25.7%. These calculations are based on the figures supplied in the results summary.
A reduction in losses can be an early sign of improving financial performance. However, investors need to determine whether the improvement comes from recurring operating progress, lower expenses, changes in other income or expenses, or other accounting factors.
Until NDTV demonstrates a sustained reduction in losses and a credible path towards positive earnings, it would be premature to describe the results as a complete turnaround.
EBITDA Loss and Margin: An Important Improvement
NDTV reported an EBITDA loss of ₹46.33 crore, compared with ₹57.26 crore a year earlier and ₹67.83 crore in the preceding quarter.
The EBITDA margin improved to -36.63%, from -46.83% year on year and -57.86% quarter on quarter. A less negative EBITDA margin indicates that the company is losing less at the operating level relative to revenue.
Despite the improvement, the margin remains substantially negative. NDTV would need to continue improving revenue generation and operating efficiency to approach EBITDA breakeven.
Investors should monitor whether the next few quarters show continued margin improvement, as well as whether operating cash flow strengthens alongside reported earnings.
SWOT Analysis: NDTV
Strengths
Established media presence, recognised news brands and reported improvement in revenue and operating losses provide a foundation for further progress.
Weaknesses
Continued net losses, negative EBITDA margins and the need to improve operating efficiency remain significant financial challenges.
Opportunities
Digital content, audience engagement, advertising monetisation and more efficient content distribution could support future revenue development.
Threats
Competition for advertising, changing media consumption, cost pressures, digital disruption and prolonged losses could weigh on financial performance.
What Should Investors Watch Next?
1. Revenue momentum: Check whether year-on-year revenue growth accelerates and whether the company can maintain sequential improvement.
2. EBITDA breakeven: Monitor the operating loss and margin over subsequent quarters. A sustained reduction in the negative margin would be an important sign of progress.
3. Net profitability: Examine the relationship between EBITDA and net loss, including depreciation, finance costs, taxes and other income or expenses.
4. Cash flow and funding: Review operating cash flow, liquidity and financing requirements to understand how the company is funding its operations.
5. Valuation: Consider the share price in relation to the company's financial position, revenue prospects and potential path towards profitability. A reduction in losses does not automatically mean a stock is undervalued.
Valuation and Investment View
NDTV's Q2 FY27 results show an improvement in reported financial performance. Revenue grew year on year and sequentially, while net and EBITDA losses narrowed compared with both the year-ago and preceding quarters.
The positive aspect is the direction of change. The main concern is that the company continues to report substantial losses, with an EBITDA margin of -36.63%. The results therefore point to progress, but not yet to operating profitability.
A meaningful valuation assessment would require the current share price, market capitalisation, balance-sheet strength, cash flow, detailed segment performance and management's outlook. Without these details, a definitive conclusion about whether NDTV shares are attractively valued cannot be drawn.
Investment perspective: Investors should look for sustained revenue growth, continued margin improvement, better cash generation and a credible path towards breakeven before concluding that a durable turnaround is underway.
Investor Takeaway
Derivative Pro & Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, observes that NDTV's Q2 FY27 results show a measurable reduction in losses alongside moderate revenue growth. The improvement is encouraging, but continued negative EBITDA margins mean that the company's recovery still needs to be demonstrated through sustained operating progress.
Investors should focus on the consistency of revenue growth, operating margins, cash flow and the company's path towards profitability rather than reacting to a single quarter in isolation. For further market analysis, visit Indian-Share-Tips.com or call 9988877963.
Related Queries on NDTV and the Indian Media Sector
Q1. What was NDTV's net loss in Q2 FY27?
NDTV reported a consolidated net loss of ₹61.43 crore, compared with ₹76.59 crore in the year-ago quarter and ₹82.64 crore in the preceding quarter.
Q2. How much revenue did NDTV report in Q2 FY27?
Revenue was ₹126.47 crore, up 3.44% year on year and 7.88% quarter on quarter.
Q3. What was NDTV's EBITDA loss?
The company reported an EBITDA loss of ₹46.33 crore, compared with ₹57.26 crore a year earlier and ₹67.83 crore in the preceding quarter.
Q4. What does NDTV's negative EBITDA margin mean?
A negative EBITDA margin means the company reported an operating loss at the EBITDA level relative to revenue. NDTV's margin improved to -36.63%, but remained negative.
Q5. Does narrowing losses mean NDTV has achieved a turnaround?
No. Narrowing losses indicate improvement, but a sustainable turnaround would require continued progress in revenue, operating margins, cash flow and overall profitability.
Q6. Is NDTV a good stock to buy after its results?
The supplied quarterly figures are insufficient to determine whether the shares are attractively valued. Investors should assess the company's valuation, financial position, cash flow, competitive environment and future earnings prospects.
SEBI Disclaimer: This article is for general information and educational purposes only. It should not be construed as investment advice, a recommendation to buy or sell any security, or a guarantee of returns. Financial markets involve risk, including the possible loss of capital. Readers should conduct independent research and consult a suitably qualified adviser before making investment decisions. Company performance and market conditions may change.
