NDTV's profit down 50% in Q3FY23; revenue down 9.4%

Media firm New Delhi Television Ltd (NDTV) on Tuesday reported a 49.76% decline in consolidated net profit to Rs 15.05 crore for the quarter that ended December 2022.

The company had posted a net profit of Rs 29.96 crore during the October-December quarter a year ago, according to a regulatory filing by NDTV, which is now controlled by the Adani group.

Its revenue from operations was down 9.44% to Rs 105.37 crore during the quarter under review compared to Rs 116.36 crore a year ago.

Its consolidated profit "is lower in comparison to the same quarter last year, primarily due to reduction in consumption of advertisement inventory across news genre," NDTV said in an earning statement.

This is the 13th consecutive profitable quarter for the NDTV Group, the company added NDTV's total expenses in the December quarter rose 4.93% to Rs 88.27 crore. It was Rs 84.12 crore in Q3 FY 2021-22.

Shares of New Delhi Television Ltd on Tuesday settled at Rs 216.95 on BSE, up 1.07%.

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