Network18 Media topline grows in Q2

Chennai, Oct 18 (IANS) Network18 Media & Investments Ltd closed the second quarter of FY23 with a revenue from operations of Rs 1,549 crore, up from Rs 1,387 crore posted for the same period of the previous year.

The company logged an EBITDA of Rs 32 crore for Q2FY23 as against Rs 253 crore for Q2FY22.

“The first half of the fiscal has been challenging for most sectors. However, we believe that this phase should only be a minor bump in the long runway for growth,” said Network18 Chairman, Adil Zainulbhai.

“Our presence across the full spectrum of content segments and platforms places us in a unique position to leverage the combined strengths of our assets.

“Despite the macro environment being less than ideal for growth currently, we continue to make investments which will help us create a strong foundation for long-term and will hold us in good stead as growth returns,” he added.

–IANS

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