India's NDTV falls after reporting June-quarter loss

New Delhi Television

28/07/2023 05:55

** Shares of Adani-owned New Delhi Television  NDTV.NS  fall
3.1% to 224.3 rupees; on track to fall for third straight
session, if trends hold
    ** Co on Thursday reported Q1 consolidated net loss of 81.3
mln rupees ($987,759.32) compared to profit of 232.2 mln rupees
year ago; revenue fell 35%
    ** Co says weak economic environment and slowdown in
advertisement spend in both broadcast and digital impacted its
results
    ** Separately, NDTV said NSE and BSE imposed penalty of
610,060 rupees on co for alleged non-compliance with
requirements for composition of co's board, audit committee, and
nomination and non-remuneration committee
    ** Stock down 33.1% YTD as of last close
    
($1 = 82.3075 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))