Indian news broadcaster NDTV posts twelfth straight quarterly loss
Indian news broadcaster NDTV posts twelfth straight quarterly loss Oct 26 (Reuters) - India's New Delhi Television NDTV.NS posted its twelfth consecutive quarterly loss on Monday, albeit narrower than a year earlier, hurt by higher production expenses.
The broadcaster's consolidated loss stood at 632.7 million rupees ($6.65 million) for the quarter ended September 30, compared with a loss of 741.1 million rupees a year earlier, helped in part by a decline in marketing cost.
NDTV, in which the ports-to-energy conglomerate Adani Group holds a majority stake, reported a nearly 21% surge in quarterly expenses for production and cost of services
Consolidated revenue from operations rose 5.8% over the year ago to 1.29 billion rupees
The company has been investing in new channels and expanding its content portfolio, such as lifestyle channel Goodtimes
Indian broadcasters have also been grappling with weak TV advertising demand as macroeconomic uncertainty prompts businesses to cut spending, with intense competition from digital advertising adding to the pressure
Rivals Reliance group-controlled Network18 Media NEFI.NS, TV Today Network TVTO.NS and Zee Media Corporation ZEEN.NS, among others, have yet to report their results
($1 = 95.2100 Indian rupees)
(Reporting by Aishwarya Jain in Bengaluru; Editing by Mrigank Dhaniwala and Shilpi Majumdar)
((Aishwarya.Jain@thomsonreuters.com;))
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