Media firm New Delhi Television Limited (NDTV) on Monday reported a consolidated net loss. 1.08 crore for the quarter ending March 2023. This is against a consolidated net profit 25.83 crore in the corresponding quarter of the previous financial year.
Its consolidated revenue from operations stood at 66.96 crore during the quarter under review as against 103.8 crores a year ago.
NDTV reduced external borrowings 3 crore in the quarter under review 9 crores last year
stood on cash and cash equivalents 103.6 crore for the quarter ended March 2023, as compared to Rs. 116.4 crores last year.
“One-time expense due to severance pay and one-time write-off provisions impacted EBITDA margin 4.80 crore,” the company said in its filing.
On December 30, 2022, AMG Media Networks Limited (AMNL) through its indirect subsidiary RRPR Holding Private Limited has acquired 27.26% stake in NDTV, resulting in controlling interest of 64.71% in NDTV by AMNL through its subsidiaries. The stake is done.
Gautam Adani, Founder and Chairman, Adani Group, said, “The Adani Group is privileged to drive NDTV forward with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organization.”
“Our first plan is to strengthen and invest in NDTV Newsroom as a multi-faceted multi-media digital platform. Increasing NDTV’s digital reach through more global content, new formats, personalization and interactivity with viewers will require more reporters, producers and editors backed by robust research tools. We will deliver news that truly adds value to the lives of Indian citizens and those interested in India,” said Mr. Sanjay Puglia, CEO, AMG Media Networks Limited.
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