MUMBAI: Network18 Media and Investments Limited recorded a consolidated net loss of Rs 45.66
crore for the second quarter ended September 30. In the same period last year, company's consolidated net loss stood at Rs 88.96 crore.
“The standalone and the consolidated results for the current quarter are not comparable with those of the quarter of the previous year,” the company said in a statement.
The Network 18 Group had aligned three divisions of Infomedia 18's publishing business, while the printing press business continued to remain with Infomedia18 earlier this year.
Total income from operations, however, raised to Rs 638.13 crore during the reported period, while the same stood at Rs 459.96 crore in the year-ago period.
“The Network18 group is now entering a new phase in its journey with a formidable broadcast offering (post the consummation of our proposed strategic stake acquisition in ETV), our new distribution venture - Indiacast, and a strong portfolio of digital properties in addition to a recast balance sheet,” Network18 Managing Director Raghav Bahl said.
During the quarter under review, company's media operations contributed Rs 478.23 crore to the revenues, while film production and distribution added Rs 47.34 crore.