Network18 narrows loss to Rs27.42 crore in September quarter1 min read . Updated: 14 Oct 2015, 10:34 PM IST
Network18's revenue for the quarter rose 8% to `801.1 crore from `744.8 crore
New Delhi: Media company Network18 Media and Investments Ltd, controlled by Reliance Industries Ltd, narrowed its loss to ₹ 27.42 crore for the quarter-ended 30 September, benefiting from lower interest costs.
The company posted a loss of ₹ 36.46 crore in the same period last year. Revenue for the second quarter rose 8% to ₹ 801.1 crore from ₹ 744.8 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 9.8% to ₹ 608.5 crore from ₹ 553.7 crore.
Meanwhile, BookMyShow, a movie ticketing website owned by Network18, clocked a 17% rise to 82 million visitors per month in viewership compared with the previous quarter.
BookMyShow has launched its own wallet to enhance customer experience and reach out to cash customers, activating 150,000 wallets on the first day. The general entertainment TV channel Colors held the top spot in prime time, the company said in a statement.
MTV led the youth genre with a viewership of over 5.5 million in the quarter-ended September. The company also launched, a new English general entertainment channel Colors Infinity, with premium international content in this quarter.