The shares of one of India’s top news agency channels gained a push this week, rising 13 percent to Rs 238.95 per share after the company planned to broadcast NDTV profit channel after a six-year followed by a supreme court verdict to conclude the arguments in the Adani-Hindenburg case.
On Wednesday, New Delhi Television Ltd(NDTV) shares closed at Rs 219.15 per share, from an intraday high price of Rs 238.95, on the National Stock Exchange. The company has a market capitalization of Rs 1,412 crore.
On November 28, 2023, the NDTV Board of Directors granted approval to re-commence the regular operations of NDTV Profit channel w.e.f. December 8, 2023. The company reported in its filings.
In June 2017, the company paused the regular business programming channel NDTV Profit.
Adani Group owns a 64.71 percent stake in the company. Adani Enterprises, through its indirect subsidiary RRPR Holdings, acquired a stake from NDTV promoters Radhika and Prannoy Roy.
New Delhi Television Ltd’s revenue has fallen by 9.5 percent year on year, from Rs 105 crore in Q2FY23 to Rs 95 crore in Q2FY24. During the same year, the company’s net profit significantly declined by 58 percent, from Rs 12 crore to Rs 5 crore.
The company mainly gets its revenue from advertisement sales, event sales, and subscription revenue (DTH and cable operators). Social media contributes to more than 50 percent of NDT V’s digital video revenue
NDTV channels enjoy a global reach across 65 countries with a consistent number one of the most-watched Indian news channels in the United Kingdom.
Recently, the company has planned to launch nine news channels in different Indian languages in phases.
New Delhi Television Limited (NDTV) is in the business of television media and currently operates three channels including a dual-channel (NDTV 24×7, NDTV India, and NDTV Profit). NDTV, through its subsidiaries, has expanded its presence beyond news and television into digital content, and e-commerce.
Written by Omkar Chitnis
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