India’s New Delhi Television posted its ninth-straight quarterly loss yesterday as the news broadcaster’s higher expenses continued to pressure margins. The broadcaster, in which ports-to-energy conglomerate Adani Group owns a 69.02 percent stake, has been investing in newly launched TV channels and infrastructure, such as NDTV World and NDTV Marathi, alongside other programs and events, which has kept margins under pressure.

According to a Reuters report yesterday, NDTV reported a 20.9 percent surge in expenses due to higher operating, production and marketing costs, outpacing a 13.3 percent increase in revenue from operations to 1.5 billion rupees, driven by its expanding channel portfolio.

Additionally, Indian consumer goods makers, who typically spend the most on television advertising, have reined in their spending due to muted demand amid rising costs of living.

Reliance group-controlled Network18 Media, which owns both news and entertainment channels, flagged a weak advertising environment, saying TV news ad inventory demand fell more than 10 percent year-on-year during the quarter.

Zee Enterprises, which runs entertainment channels, also reported a decline in ad revenue amid soft advertising conditions.

The company reported a loss of 802.5 million rupees ($8.72 million) in the October-December quarter, compared to a loss of 556.9 million rupees a year earlier. NDTV did not disclose its ad revenue for the quarter.

Other rivals, TV Today Network and Zee Media Corporation, are yet to report their results.