Network 18 Media Q2 consolidated revenue up 31%

Asia's Tech News Daily

Network 18 Media & Investments

Network 18 Media & Investments has posted a consolidated revenue of Rs 1,387.2 crore for the versus Rs 1,061 crore in the same quarter last year – a jump of 30.8 percent.

Its consolidated earnings before interest, tax, depreciation and amortization (EBITDA) rose 52.4 percent (YoY) to Rs 252.3 crore and the consolidated operating margin came in at 18.2 percent.

Adil Zainulbhai, Chairman of Network18, said: “The way the country came out of the grip of second wave of COVID was truly heartening, and equally reassuring was the full-swing return of economic growth. The outlook is looking quite promising from a medium term perspective and this is good news for all our consumer facing businesses. Our digital assets, both news and entertainment, got a lift during the pandemic and we continue to invest to leverage those gains.”

At 15:21 hrs Network 18 Media & Investments was quoting at Rs 77.05, down Rs 6.70, or 8.00 percent on the BSE.

The share touched a 52-week high of Rs 90 and a 52-week low of Rs 32.10 on 18 October, 2021 and 04 November, 2020, respectively.

Currently, it is trading 14.39 percent below its 52-week high and 140.03 percent above its 52-week low.

(This is a developing story. Check back for further updates)

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