NDTV reports 51% drop in Q2 profits on adspend cuts
SUBSCRIBE
JOBS
Go Back
4 months ago 06:00:18am Television

NDTV reports 51% drop in Q2 profits on adspend cuts

New Delhi,25-October-2023, By IBW Team

NDTV reports 51% drop in Q2 profits on adspend cuts

India’s New Delhi Television Ltd (NDTV), part of the Adani Group, reported a nearly 51 per cent drop in second quarter profit, as businesses cut back on advertising spending in the face of rising interest rates.

Consolidated net profit was Rs 5.91 crore in the three months to September 30, compared with Rs 12.01 crore a year earlier, it said in an exchange filing, according to a PTI report on Monday.

Indian broadcasters are grappling with slowing advertising spending as businesses clamp down on discretionary investments to rein in costs amid high inflation and aggressive interest rate hikes.

Still, the company rebounded from a loss in April-June. Revenue from operations fell nearly 10 per cent to Rs 95.55 crore in the September quarter.

The broadcaster is the first among its peers to report quarterly results. Rival TV18 Broadcast and its unit Network18 will report their earnings later this week.

Another competitor, Zee Entertainment Enterprises, will report next month.

NDTV and other listed Adani-owned companies have seen their shares battered since a US short-seller, earlier this year, accused the group of improperly using offshore tax havens and stock manipulation. Adani Group had rejected the allegations.

(Image courtesy NDTV website)


Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    BCS
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos