Network18 Media reports Rs 68-cr net profit for Sept qtr, revenue dow 10%

Media firm Network18 Media and Investments Ltd on Tuesday reported a consolidated net profit of Rs 68.01 crore for the second quarter ended September 30.

The company had posted a net loss of Rs 24.68 crore for the July-September quarter a year-ago, Network18 Media and Investments Ltd said in a regulatory filing.

Its consolidated revenue from operations during the quarter under review dropped 9.62 per cent to Rs 1,060.89 crore, against Rs 1,173.82 crore a year ago.

Network18’s total expenses were at Rs 976.90 crore as against Rs 1,205.05 crore, down 18.93 per cent.

Network18 Chairman Adil Zainulbhai said, “The group businesses have recovered from the impact of the COVID-19 pandemic to a large degree.”