Indian broadcaster NDTV's Q1 loss widens on higher production, marketing costs

New Delhi Television

29/07/2024 11:50

BENGALURU, July 29 (Reuters) - Indian broadcaster NDTV
 NDTV.NS  reported a wider first-quarter loss on Monday, as a
rise in expenses overshadowed revenue from political
advertisements during the country's general elections.
    The Adani Group-owned news broadcaster reported a loss of
467.5 million rupees ($5.6 million) in the April-June period,
compared to a loss of 81.3 million rupees a year before.
    Quarterly expenses were surged around 77%, with production
costs, among broadcasters' biggest expenses, up 80% and
marketing spends related to a newly-launched regional channel
tripling.
    Advertising, a news channel's biggest source of revenue, has
been frail for over a year as businesses cut back on marketing
spends amid high inflation, dragging NDTV and Reliance
Industries-owned Network18 Media  NEFI.NS  to a string of
losses.
    Earlier this month, Network18 said it benefited from the
general elections, which lasted from April to June.
    Political advertisements boosted NDTV's revenue by 34% to
939.2 million rupees, its second straight rise after five
consecutive quarters of a revenue fall.
    Since its takeover by the Adani Group in late 2022, NDTV has
launched new channels, such as NDTV Profit, as it looks to catch
up and compete with Network18 and Zee Media  ZEEN.NS .
    NDTV shares were little changed after the results, ending
0.5% lower.


($1 = 83.7193 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru; Editing by Eileen
Soreng)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))