Network18 Media declines after reverse turnaround in Q4

Network18 Media & Investments lost 4.6% to Rs 42.50 at 11:54 IST on BSE after the company reported consolidated net loss of Rs 3.70 crore in Q4 March 2016 compared with net profit of Rs 10.58 crore in Q4 March 2015.

The result was announced after market hours yesterday, 20 April 2016.

Meanwhile, the S&P BSE Sensex was up 134.95 points or 0.52% at 25,979.13.

On BSE, so far 60,000 shares were traded in the counter as against average daily volume of 1.18 lakh shares in the past one quarter. The stock hit a high of Rs 44.45 and a low of Rs 42.45 so far during the day. The stock had hit a 52-week low of Rs 38.25 on 29 February 2016. The stock had hit a 52-week high of Rs 63.90 on 28 December 2015. The stock had underperformed the market over the past one month till 20 April 2016, gaining 2.65% compared with the Sensex's 3.57% rise. The scrip had also underperformed the market in past one quarter, sliding 3.78% as against Sensex's 7.41% rise.

The mid-cap company has equity capital of Rs 523.47 crore. Face value per share is Rs 5.

Network18 Media & Investments' total income rose 5.6% to Rs 920.51 crore in Q4 March 2016 over Q4 March 2015.

Lower non-operational income (other income) and higher depreciation charges during the quarter weighed on Network18 Media & Investments' bottom line. Other income declined 41.3% to Rs 17.58 crore in Q4 March 2016 over Q4 March 2015. Depreciation charges rose 62.8% to Rs 28.08 crore in Q4 March 2016 over Q4 March 2015.

Network18 Media & Investments is a media and entertainment company. The company has interests in television, internet, filmed entertainment, digital commerce, magazines, mobile content and allied businesses.

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