NDTV FY23 Results: Revenues Flat, Profit Hit By Exceptional Items
New Delhi Television Ltd. announced its earnings for the year ended March 31, 2023.
Revenue from operations for the full year remained flat at Rs 385.8 crore on a consolidated basis.
Consolidated profit for the year was impacted by exceptional items and stood at Rs 52.94 crore.
The Delhi-based television broadcaster posted exceptional expenses to the tune of Rs 11.76 crore, which included employee severance cost of Rs 3.54 crore, the company disclosed.
AMG Media Networks Ltd. via an indirect subsidiary acquired 27.26% stake in NDTV from Radhika Roy and Prannoy Roy on Dec. 30, 2022, resulting in a controlling stake of 64.71% in NDTV by AMG Media.
The company has filed an application with SEBI to reclassify Prannoy Roy and Radhika Roy from 'Promoter' to 'Public' category shareholders.
The new management and Board are taking steps to invest in content, marketing and distribution initiatives, to create a strong foundation for long-term growth and scale up its presence across segments, the company said in a stock exchange release.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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