Adani-owned NDTV Q2 profit falls amid advertising woes

Bengaluru: New Delhi Television Ltd (NDTV), part of the Adani Group, reported a nearly 51 per cent drop in second quarter profit on Monday, as businesses cut back on advertising spending in the face of rising interest rates.

Consolidated net profit was Rs 59.1 million in the three months to Sept. 30, compared with Rs 120.1 million a year earlier, it said in an exchange filing.

Indian broadcasters are grappling with slowing advertising spending as businesses clamp down on discretionary investments to rein in costs amid high inflation and aggressive interest rate hikes.