Network18 Media shares rally 13% after co turns profitable in Q1

Time of India

2 days ago

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Shares of Network18 Media jumped 13.5% on Wednesday, hitting an intraday high of Rs 63.51 apiece on the BSE, after the company reported a turnaround to profitability in the June quarter. It posted a net profit of Rs 516 crore, driven primarily by an exceptional gain.For the June 2025 quarter, Network18 reported revenue from operations of Rs 430 crore, a 5% year-on-year (YoY) decline. The company posted a net profit of Rs 516 crore, largely due to an exceptional item of Rs 537.97 crore. In comparison, the company posted a net loss of Rs 80.85 crore in the corresponding quarter of the last financial year.Mr. Adil Zainulbhai, Chairman of Network18, commented on the results, 'Another quarter of strong operating performance; however, persisting macro-economic headwinds meant that it did not translate into a commensurate financial performance. Our steady progress across operating metrics over the last few quarters is a testimony to our vision for the business and the strategic execution of our plans. Our new product launches highlight our forward-looking approach and our endeavour to continue diversifying our business and build new avenues of growth.'From a technical standpoint, Network18 is showing strength, trading above all 8 key simple moving averages (SMAs) — from the short-term 5-day SMA to the long-term 200-day SMA. This suggests positive momentum across multiple timeframes.The 14-day Relative Strength Index (RSI) is at 51.5, indicating the stock is neither overbought (above 70) nor oversold (below 30), signalling a balanced position.Also read: Silver jumps 30% in 2025 so far: Will it reach Rs 2 lakh or correct soon? The stock's 52-week high stands at Rs 106.01, while the 52-week low is Rs 39.55, showing a wide trading range over the past year.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)