JioStar's Q2 profit falls 13% amid weak ad environment
Mumbai, Oct. 30 -- Reliance Industries Ltd's entertainment subsidiary JioStar reported a 10% year-on-year jump in revenue to Rs.6,806 crore in the September quarter, although earnings before interest, taxes, depreciation, and amortization (Ebitda) fell nearly 14% to Rs.1,502 crore.
Profits after tax for the quarter stood at Rs.1,147 crore, down 13% on-year.
The company said a "weak ad environment" hurt the quarter, although subscription and streaming revenue helped boost overall revenue. However, linear TV ad revenue remained "under transition", it added.
Sports ad revenue increased as more cricket events were held this quarter, including the England-India bilateral series held in July.
RIL does not break out JioStar's revenue by segm...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.