New Delhi: Network18 Media and Investments Ltd, which has business interests in television, movies and online retailing, reported a fourth-quarter loss of 3.7 crore compared with a year-earlier profit.

Revenue rose 7.3% to 902.9 crore for the quarter ended 31 March.

The company had posted a profit of 10.5 crore in the quarter ended March 2015 and a loss of 2.1 crore in the three months ended December.

For the year ended 31 March, the company’s loss narrowed to 34.6 crore from 1059.9 crore in the previous 12 months. Revenue increased by 8.9% to 3,403.3 crore.

Revenue from TV18 Broadcast Ltd, a subsidiary of Network18 which operates news channels CNN IBN and CNBC TV18, rose 6.6% to 671.3 crore for the March quarter.

TV18 Broadcast’s profit fell to 82.5 crore from 95.4 crore for the same period a year ago.

Earlier this week, TV18 Broadcast Ltd rebranded its flagship English news channel CNN IBN as CNN News18 and its website ibnlive.com as news18.com in a content revamp.

Network18 Media and Investments Ltd is controlled by billionaire Mukesh Ambani’s Reliance Industries Ltd.

Shares of Network18 rose 4.09% to 44.55 each, on a day when the benchmark Sensex gained 0.11% to 25,844.18 points.

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