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Sunday, January 17, 2016

Network 18 Media loss narrows to Rs 2.41 cr in Dec quarter

Reliance Industries owned Network 18 Media & Investments Ltd on Friday has reported that its consolidated net loss contracted to Rs 2.41 crore for the third quarter ended December 31, 2015, mainly on the account of higher income from media operations. “The consolidated net loss of the company stood at Rs 12.15 crore during the same period a year ago,” said Network 18 Media & Investments Ltd in a filing to the Bombay Stock Exchange on January 15, 2016. However, the consolidated total income of the company increased by 9.2 per cent at Rs 915.36 crore during Q3 2015-16, as against Rs 838.47 crore during the same period last year. During the quarter under review, revenue from media operations grew by 7.85 per cent at Rs 895.02 crore while revenue from film production and distribution declined by 11.92 per cent to Rs 10.56 crore. Meanwhile, shares of the company closed at Rs 50 apiece, down 5.30 per cent, from previous close on BSE