India's NDTV falls as March-qtr profit drops on weak advertising demand

New Delhi Television

02/05/2023 05:15

** Shares of Indian broadcaster New Delhi Television Ltd
(NDTV)  NDTV.NS  fall as much as 4% to 182 rupees, marking their
sharpest intraday pct drop since April 12
    ** Co reports a 97.6% slump in March-qtr consol net profit,
which came in at 5.9 mln rupees ($72,188.91), hurt by weak
advertising demand
    ** Experiencing a slowdown in global advertisement demand
amid elevated inflation levels, NDTV's rev from ops fell 35.5%
to 669.6 mln rupees
    ** Stock trading below its 50-, 100-, and 200-day moving
averages since March 10
    ** About 143,120 shares change hands, vs 30-day avg of
332,165 shares
    ** Stock down 45.2% this year, up to last close vs Nifty
Media Index's  .NIFTYMED  13.9% fall


      ($1 = 81.7300 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))