Network 18 posts Rs44 cr loss; confident of increasing market share

Network 18 posts Rs44 cr loss; confident of increasing market share
PTI
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First Published: Fri, Jan 30 2009. 09 37 PM IST
Updated: Fri, Jan 30 2009. 09 37 PM IST
Mumbai: Network 18 Media & Investments on Friday said its consolidated net loss after deferred tax for the third quarter (Q3) ended 31 December 2008, stood at Rs44 crore.
The company had a net profit after deferred tax of Rs19.45 crore for the same quarter in FY 08, Network 18 Media & Investments said in a filing to the Bombay Stock Exchange.
“The October-December quarter saw the benefits of Network 18’s ‘diversified media´ strategy come into bold relief. We are confident that Network 18 will increase its market share during these tough times,” Network 18 managing director Raghav Bahl said.
Revenue from operations of company stood at Rs225 crore for the quarter under review, while it had revenues from operations at Rs186 crore in the corresponding period year ago.
On a standalone basis, the company has incurred a net loss after deferred tax at Rs14.8 crore for the quarter ended 31 December, while it had a net profit after deferred tax of Rs30.33 crore in the same period last fiscal.
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First Published: Fri, Jan 30 2009. 09 37 PM IST