NDTV posts consolidated loss of Rs 8 crore in Q1
The network has said slowdown in ad spends impacted its overall results
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Published: Jul 28, 2023 12:13 PM | 1 min read
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NDTV has posted a standalone loss of Rs 7.4 crore and a consolidated loss of Rs 8.1 crore for the quarter ended June 30 2023.
This is against the network's performance in the last fiscal when the same figures stood at Rs 12.5 crore and Rs 23.2 crore, respectively.
“The weak economic environment and a slowdown in advertisement spend in Q1 ‘24 has impacted NDTV’s standalone and consolidated results,” the company said.
The network’s digital business has stayed profitable in the respective quarter.
According to the NDTV’s quarterly financial result release, “With the objective of building up a credible news brand and capitalising on the brand value of NDTV, the board and the new management are taking necessary steps to invest in content, marketing, and distribution initiatives as well as focusing to improve the profitability of the company in the quarters to come.”
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