- Monday, May 05, 2025
By: Shubham Ghosh
NDTV, the Indian broadcaster which is part of the embattled Adani Group, on Monday (1) posted a 97.6 per cent drop in quarterly profit due to weak advertising demand, Reuters reported.
The results were revealed as businesses globally look to control expenditures such as advertising to overcome an economic downturn caused by persistently high inflation and aggressive hikes in interest rates.
According to the report, NDTV showed a consolidated net profit of Rs 5.9 million for the quarter ended March 31, compared to Rs 241.6 million a year ago.
Revenue from operations plummeted 35.5 per cent to Rs 669.6 million due to a “slowdown in global advertisement spend,” the company said.
Total expenses, on the other hand, rose 5.9 per cent, thanks to production and services costs.
Along with NDTV, other companies owned by Adani Group have witnessed their share prices take a bearing since US short-seller Hindenburg Research raised concerns in January about the conglomerate’s debt levels and use of tax havens.
Adani Group denied the allegations.
While shares of NDTV fell about 33 per cent since then, the Nifty Media index declined 9.69 per cent during the same period, the Reuters report added.
