UTV Software Q1 loss at Rs 3 cr

Media and entertainment firm UTV Software Communications today posted consolidated net loss of Rs 3.06 crore for the quarter ended June 30, 2011 due to increased expenses and deferred tax payment.

During the three months ended June 30, 2010, the company's net profit was Rs 41.19 crore, it said in a filing to the Bombay Stock Exchange (BSE).

The company's consolidated net sales for the first quarter ended June 30, 2011 increased 2.89% to Rs 205.04 crore, as against Rs 199.27 crore in the corresponding quarter of last fiscal.

The company's scrips closed at Rs 955, down marginally from the previous close on the BSE.