Network18 Media Q1 loss widens to Rs 113.17 cr

Team Udayavani, Jul 24, 2018, 4:40 PM IST

New Delhi: Network18 Media & Investments today reported a consolidated net loss of Rs 113.17 crore for the first quarter ended June 30, 2018.

The company had reported a net loss of Rs 69.58 crore during the same period of 2017-18.

Total consolidated income from operations during the reported quarter stood at Rs 1,093.97 crore. It was Rs 336.29 crore in the first quarter of 2017-18, Network18 Media said in a BSE filing.

The company said results are not comparable consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 1, 2018.

The first quarter earnings are also not comparable as TV18 Home Shopping Network and NW18 HSN Holdings Pic ceased to be subsidiaries and become associates with effect from February 15, 2018, it said.

Shares of Network18 Media settled at Rs 43.70 per scrip, up 2.70 per cent from the previous close.