Network18 Q2 Profit Rises 28 PC to Rs 53 Cr

New Delhi: Network18 Media & Investments Ltd on Friday reported 28.67 per cent increase in consolidated net profit at Rs 53.08 crore for September quarter FY27.

The company had logged a net profit of Rs 41.25 crore in the July-September period a year ago, according to a regulatory filing by the company.

Network18 Media & Investments is owned by billionaire Mukesh Ambani-led Reliance Industries Ltd, through Independent Media Trust.

Revenue from operations of Network18 was up 9.4 per cent year-on-year to Rs 544.67 crore in the September quarter. Total expenses were higher by 5.75 per cent, at Rs 613.6 crore. Total income, which includes other income, was at Rs 559.49 crore, up 11.7 per cent year-on-year.

“Growth in the company’s revenue was primarily driven by its content studio subsidiary as advertising growth was subdued. Connected TV continued to be a bright spot, showing robust growth as an emerging revenue stream,” Network18 said in its earning statement.

The company’s diversified business and strong positions across markets have helped it maintain revenue momentum even during a challenging period for the industry, it added.

The advertising inventory consumption for the news genre declined by 13 per cent as corporate spends continued to be impacted by the West Asia conflict, weak monsoon and television ratings blackout, while demand for government-linked advertising (Centre and State government campaigns, PSUs, spends by political parties) was strong for the second consecutive quarter, it said.

On a standalone basis, Network18’s revenue from operations was down 3.95 per cent year-on-year at Rs 458.3 crore in September quarter.

In the first half (H1) of FY27, the total consolidated income was at Rs 1,079.88 crore, up 10.32 per cent.

“We delivered a resilient operating performance during the quarter despite a challenging and dynamic macroeconomic environment. While external factors continued to influence industry sentiment and consumer demand, our focus remained firmly on strengthening our core offerings, enhancing audience engagement, and driving execution across our businesses,” Chairman Adil Zainulbhai said.

Network18 continues to be India’s leading TV news network with its portfolio of 20 channels across over 10 languages. Besides, it is a leading digital news network with platforms such as Moneycontrol, Firstpost among others.

It also has investments in leading media platforms such as JioStar, bookmyshow and ETV.

Shares of the company were trading at Rs 23.53 apiece, down 2.49 per cent on BSE.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)