IBN18 drops on dismal FY09 performance

The stock dropped over 6% from the day's high to a low of Rs 93. It finally settled at Rs 94 - down 4.5%. The counter witnessed very thin trade volumes of 38,321 shares as compared to its two-week daily traded average of 86,575 shares. ______________________________________________________________

Updated at 1209 hrs:

IBN18 Broadcast has shed on a four-fold loss in FY09 net.

The stock today opened in the red at Rs 96. It recovered for a little while and touched a high of Rs 100 but slipped back into red to touch a low of Rs 95, down 5% frm the day's high. It is now trading down 4.3% at Rs 95. The stock has shed 24% in the past month. Around 11,160 shares have been traded so far on the BSE.

According to a release issued by the company to the BSE, the consolidated net loss has seen a four fold increase (292%) to Rs 92 crore for the year ended March 2009, from Rs 23.44 crore in the previous fiscal.

The total income, however, is up 39% at Rs 183.12 crore from Rs 131.78 crore.