Network18 Media Q1 loss narrows to Rs 1.14 crore

Network18 Media & Investments Ltd today reported a consolidated net loss of Rs 1.14 crore for the first quarter ended June 30.
The company had reported a consolidated net loss of Rs 1,021.18 crore during the same period last fiscal.
Total consolidated income from operations during the quarter under review stood Rs 793.64 crore. It was Rs 708.39 crore in Q1 of FY 2014-15.
Meanwhile, Network18 Media informed that its results were not comparable with the previous period.
"During the quarter, entire stake in Stargaze Entertainment Pvt Ltd, a subsidiary of the company was sold and profit of Rs 43.29 crore on such sale is included in other income. Accordingly, figures of the current period are not comparable with previous year," said Network18 Media & Investments.

Network18 Media's revenue from media operations segment was Rs 718.79 crore during the quarter. It was Rs 694.07 crore during the same quarter of 2014-15.
Revenue from its film production and distribution segment was Rs 52.60 crore during the period under consideration. It was Rs 14.31 crore in the year-ago period.
Shares of Network18 Media today settled at Rs 55.60 per scrip on BSE, down 3.56 per cent.