Network18 Media reports first quarter net profit at Rs 121.51 crore

Media firm Network18 Media & Investments Ltd on Tuesday reported a consolidated net profit of Rs 121.51 crore for the first quarter ended June 2021.

The company had posted a net loss of Rs 60.60 crore for the April-June period of the previous fiscal, Network18 Media said in a regulatory filing.

Consolidated revenue from operations rose 50.47 per cent to Rs 1,214.43 crore, as against Rs 807.07 crore in the corresponding quarter a year ago.

“Operating margin at … 15.5 per cent, highest ever in first quarter; despite second wave impact,” the company said.

Total expenses were at Rs 1,080.79 crore, up 23.99 per cent from Rs 871.65 crore earlier.

Commenting on the results, Network18 Chairman Adil Zainulbhai said, “Led by the many learnings from the past year and a responsibility to serve the Indian audience, we have been able to continue our businesses relentlessly and profitably.”

Shares of Network18 Media & Investments Ltd on Tuesday settled at Rs 50.15 on BSE, down 2.53 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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