Network18 Media & Investments today reported a consolidated net loss of Rs 67.87 crore for the second quarter ended September 30, 2018.
It had reported a net loss of Rs 70.70 crore in July-September quarter a year ago, Network18 said in a BSE filing.
Total consolidated income from operations during the reported quarter stood at Rs 1,200.34 crore. It was Rs 331.40 crore in the same period last fiscal.
The company said results are not comparable consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 1, 2018.
"Consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 2018, and TV18 Home Shopping Network and NW18 HSN Holdings Pic ceasing to be subsidiaries and becoming associates... the figures for the current quarter and half year are not comparable with those of the corresponding periods," the company said.
Its total expenses during the quarter was Rs 1,227.38 crore.
Commenting on the results, Network18 Chairman Adil Zainulbhai said: "Our regional properties across news and entertainment have shown significant improvements in viewership and monetisation, cementing our belief that vernacular content will be a key growth driver".
Shares of Network18 Media & Investments today settled at Rs 45.35 on BSE, up 3.30 per cent from previous close.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app