Riding against pandemic, NXTDIGITAL posts higher numbers for quarter and year ending March’21
Sees FY’21 EBIDTA grow by 6.16% over FY’20 whilst Q4 EBIDTA grows by 167% over FY’20
NXTDIGITAL beats the impact of Covid on the media & entertainment industry – key drivers include rolling out a digital work-from-home solutions bundle comprising video, broadband & value-added services; leveraging the broadband capability of the organization to cater to the surge in demand, working with broadcasters and last mile partners to create innovative content packages and ensuring a strong business continuity plan to keep the operations going.
Revenue for the quarter ending March 31, 2021 grows by 6.95% over the previous quarter and by 22.38% over the corresponding quarter of the previous year.
EBIDTA for the quarter increased by 8.10% over the previous quarter and by 167% over the corresponding quarter of the previous year.
Company posted a handsome PAT of Rs 13.66 crores in the quarter as against Rs 0.32 crores in the previous quarter and a Loss after tax of Rs (43.43 crores) in the corresponding quarter of the previous year.
For the year ending March 31, 2021, the Company recorded an EBIDTA of Rs 232.08 crores, growing by 6.16% over the previous year. EBIDTA margins improved to 23.01% for the year compared to 21.04% in the previous year.
Broadband business saw a huge growth of 87% in the customer base; growing from 0.329mn in FY20 to 0.615mn in FY21
Despite the challenges of the year, to acknowledge the support of the shareholder family who have stood by the Company, the Board of Directors have recommended a dividend of Rs 4 per equity share, subject to shareholders’ approval.
In order to have a stronger Capital structure which provides a strong basis for future growth investments, the Board of Directors have recommended a “Rights Issue”.
Vynsley Fernandes, MD & CEO at NXTDIGITAL Ltd. said “This performance trains the spotlight on NXTDIGITAL, considering this was easily one of the most challenging years, which saw a significant impact on the media and entertainment industry. The stellar performance can be attributed to the company’s focus on uninterrupted customer service during the lockdown and after, innovative products and solutions to combat the myriad of ground challenges, driving close to a 100% digital mode of collections on a prepaid basis and the unstinting and tireless efforts of all our employees and our Last Mile partners - all of whom rose to the occasion, without exception”.