Discovery Communications’ FY23 profit flat at Rs 68 crore

Discovery Communications India (DCI) reported net profit of Rs 68 crore for 2022-23, up 1.49% from Rs 67 crore in the previous financial year.

The company, which operates 18 TV channels and the Discovery+ streaming platform, reported a 9.59% revenue growth to Rs 1,055 crore, while expenses decreased 9.6% to Rs 975 crore.

DCI’s advertising and promotional expenses declined 25% to Rs 290 crore, while employee benefit expenses increased 29% to Rs 195 crore during the fiscal.