Network 18 Media & Investments has narrowed its second-quarter consolidated loss to Rs 67.87 crore compared to a loss of Rs 113.17 crore in the previous quarter on strong revenue growth and improved operational performance.
Revenue from operations during the quarter grew by 10 percent to Rs 1,237 crore compared to Rs 1,124.24 crore in June quarter.
The company had reported a loss of Rs 70.70 crore on revenue of Rs 326.86 crore for the quarter ended September 2017.
Consequent to Viacom18 Media Private Limited and IndiaCast Media Distribution Private Limited becoming subsidiaries with effect from March 2018 and TV18 Home Shopping Network Limited and NW18 HSN Holdings Plc ceasing to be subsidiaries and becoming associates with effect from February 15, 2018, the figures for the current quarter and half year are not comparable with those of the corresponding periods.
Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) in September quarter shot up nearly 400 percent sequentially to Rs 92.1 crore and margin expanded to 7.4 percent from 1.6 percent in the June quarter.
Tax expenses for the quarter more than doubled to Rs 24.5 crore compared to Rs 11.3 crore in previous quarter.
At 12:41 hours IST, the stock price was quoting at Rs 44.70, up Rs 0.80, or 1.82 percent on the BSE.
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