BackNetwork18 June quarter loss at Rs1.14 crore
Revenue for the quarter rose 12% to `793.6 crore from `708.4 crore
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New Delhi: Network18 Media and Investments Ltd, which has business interests in television, movies and online retailing, significantly narrowed its consolidated net loss to ₹ 1.14 crore for the quarter ended 30 June as it benefited from lower interest costs.
The company posted a net loss of ₹ 1,021.87 crore in the same period last year.
Revenue for the first quarter of FY 2015-16 rose 12% to ₹ 793.6 crore from ₹ 708.4 crore.
Revenue from its subsidiary TV18 Broadcast Ltd, the company’s television and motion pictures business that also operates news channels CNN-IBN and CNBC TV18, rose 13% to ₹ 596.7 crore from ₹ 527.7 crore.
Meanwhile, Bookmyshow, a movie ticketing website owned by Network18 clocked 62% jump in viewership to 70 million visitors per month. Number of tickets sold grew 100% over the previous quarter.
The general entertainment TV channel Colors held the top spot in prime time, the company said in a statement. Colors led the non-fiction genre, thanks to reality shows ‘Comedy Nights with Kapil’ and ‘India’s got Talent’.
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