Network18 Media Q1 net profit down 26%

New Delhi: Network18 Media & Investments Ltd on Tuesday reported a decline of 26 per cent in its consolidated net profit to Rs 29.17 crore for the first quarter ended June 2023.

The company had posted a net profit of Rs 39.46 crore during the April-June period a year ago, Network18 Media & Investments Ltd said in a regulatory filing.

However, its consolidated revenue from operations was up over two folds to Rs 3,238.94 crore as against Rs 1,339.89 crore in the year-ago period. "Consolidated revenue for the quarter grew 142 per cent YoY to Rs. 3,239 crore, driven by the performance of IPL on JioCinema," said an earnings statement from Network18 Media.