Mumbai: Media firm, Network18 Media & Investments on Wednesday reported a consolidated net loss of Rs181.87 crore for the year ended 31 March, 2009.
The company had a net profit of Rs4.52 crore for the year ended March 2008, Network18 Media & Investments said in a statement.
The company’s revenue rose to Rs1,032.66 crore for the year ended March 2009, against Rs568.40 crore in the same period last year, the release added.
“The money being raised at the corporate level shall be used to invest in operations needing growth capital and significantly de-leverage balance sheets of other group companies,” Network18’s, managing director, Raghav Bahl said.
Shares of Network18 Media on Wednesday settled at Rs111.10 on the BSE, down 5.16% from the previous days’ close.