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The shift towards new media for consuming information from traditional sources such as newspapers has presented a challenge of credibility to the government, Information and Broadcasting Secretary Apurva Chandra said on Wednesday. Addressing the first World Media Congress in Abu Dhabi, Chandra said India has over 1.2 billion mobile phone users and 600 million smartphone users who are consuming a high amount of information and entertainment via mobile devices. He said the traditional media sources in India comprised 897 television channels and over 80,000 newspapers in various languages. However, he added, that recently there has been a shift from the traditional media as youngsters were consuming information from new media sources. This has presented a challenge of credibility and that presented a challenge to the government, Chandra said. He said social media has caused faster and deeper percolation of information in India, to the effect that it has even reduced the loss of lives
Media firm Network18 Media & Investments Ltd on Tuesday reported a consolidated net profit of Rs 121.51 crore for the first quarter ended June 2021. The company had posted a net loss of Rs 60.60 crore for the April-June period of the previous fiscal, Network18 Media said in a regulatory filing. Consolidated revenue from operations rose 50.47 per cent to Rs 1,214.43 crore, as against Rs 807.07 crore in the corresponding quarter a year ago. "Operating margin at ... 15.5 per cent, highest ever in first quarter; despite second wave impact," the company said. Total expenses were at Rs 1,080.79 crore, up 23.99 per cent from Rs 871.65 crore earlier. Commenting on the results, Network18 Chairman Adil Zainulbhai said, "Led by the many learnings from the past year and a responsibility to serve the Indian audience, we have been able to continue our businesses relentlessly and profitably." Shares of Network18 Media & Investments Ltd on Tuesday settled at Rs 50.15 on BSE, down 2.53 per ...