BackNetwork 18 Media Q2 net loss widens
Network 18 Media Q2 net loss widens
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Mumbai: Network18 Media and Investments Ltd said on Friday that its consolidated net loss for the quarter ended 30 September, 2011 has widened to ₹ 70.26 crore burdened by higher production, distribution and staff costs.
Network18 Media and Investments’ consolidated sales for the three months ended 30 September, 2011 increased 19.88% at ₹ 425.35 crore as against ₹ 354.79 crore during the corresponding quarter of last financial year.
During the period under review, the company’s production, distribution and administration expenses increased to ₹ 353.72 crore as against ₹ 256.16 crore in the year ago period.
Staff costs also rose substantially to ₹ 111.80 crore during the quarter as against ₹ 83.73 crore in the same period last fiscal, it said.
The company’s TV18 business (that includes news and entertainment verticals) reported revenues of ₹ 302 crore for the quarter, a growth of 17% over the corresponding quarter last year.
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