April 29 (Reuters) - India's New Delhi Television NDTV.NS posted its 10th consecutive quarterly loss on Wednesday, as elevated expenses continued to weigh on the broadcaster's earnings.
Here are some details:
NDTV, in which ports-to-energy conglomerate Adani Group holds a majority stake, reported a 29.4% surge in expenses driven by higher operating, production and marketing costs
Indian broadcasters have been facing weak advertising demand as businesses cut marketing spending amid macroeconomic uncertainty and pricing pressures
NDTV has been investing in new channels and expanding its content portfolio, with offerings such as NDTV World and NDTV Marathi; these have raised operating and production costs
The company reported a widened net loss of 978.4 million rupees ($10.33 million) for the quarter ended March 31, compared with a loss of 608.8 million rupees a year earlier
Consolidated revenue rose 16.4% to 1.48 billion rupees
Rival Network18 Media NEFI.NS, controlled by the Reliance group and operating both news and entertainment channels, posted a consolidated net loss of 305.2 million rupees
Rivals TV Today Network TVTO.NS and Zee Media Corporation ZEEN.NS have yet to report
($1 = 94.7452 Indian rupees)
(Reporting by Devika Nair in Bengaluru; Editing by Mrigank Dhaniwala)
((Devika.MadhusudhananNair@thomsonreuters.com;))