India's Network18 Media slumps as quarterly loss widens

TV18 Broadcast

19/04/2024 05:10

** Shares of Network18 Media & Investments  NEFI.NS  fall as
much as 5% before paring some losses; last down 3.4% to 86.25
rupees
    ** The media company's consol net loss widened in the
January-March quarter as total expenses jumped over 80%, rev
from ops up 63% 
    ** Stock down 3.4% so far this week, on track for second
straight week of losses 
    ** Its shares dropped 1.3% in the quarter, logging a
quarterly loss after three consecutive quarters of gains 
    ** Another billionaire Ambani-owned media firm, TV18
Broadcast  TVEB.NS , posted weak results, down 2.7% 
    ** Including session's losses, NEFI down 0.5% YTD, TVEB and
peer NDTV  NDTV.NS  down ~9% and ~18%, respectively 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))