Adani Group-owned New Delhi Tv Ltd (NDTV) posted a loss for the primary quarter on Thursday, because the media agency was pressured by a weak promoting setting.
NDTV reported a consolidated web lack of Rs 8.1 crore for the quarter ended June 30, in comparison with a revenue of Rs 23.2 crore a yr in the past.
Income from operations plunged 35% to Rs 70 crore, whereas general bills fell 1.6%.
Individually, NDTV stated NSE, BSE imposed penalty of Rs 6.1 lakh every on it “for alleged non-compliance with the necessities pertaining to the composition of the Board, Audit Committee and the Nomination and Remuneration Committee”.
Media corporations have been going through weak commercial demand, as enterprises lower discretionary spending amid a excessive rate of interest setting.
Ports-to-energy conglomerate Adani Group holds an about 64.7% stake in NDTV via RRPR Holding and Vishvapradhan Industrial after a contentious battle final yr.
NDTV shares, which have misplaced greater than one-third of their worth to this point this yr, closed down 1.7% on Thursday forward of the outcomes.
