Shares of Entertainment Network (India) Ltd (ENIL) gained over 5%, touching the monthly high of Rs229, after the company reported consolidated net profit of Rs18.38 crore in Q3 December 2011 compared with net loss of Rs5.24 crore in Q3 December 2010.
On a consolidated basis, Entertainment Network (India) (ENIL's) net sales declined 47.4% to Rs75.13 crore in Q3 December 2011 over Q3 December 2010.
ENIL said the consolidated results are not comparable as it included results of subsidiary Alternate Brand Solutions (India) (ABSL) which is consolidated in accordance with Accounting Standard 21. The consolidated results for the corresponding periods of the previous year also included the results of Times Innovative Media (TIM) and TIM Delhi Airport Advertising (TIMDAA).TIM and TIMDAA ceased to be the subsidiaries of the company with effect from 29 December 2010.
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On a consolidated basis, Entertainment Network (India) (ENIL's) net sales declined 47.4% to Rs75.13 crore in Q3 December 2011 over Q3 December 2010.
ENIL said the consolidated results are not comparable as it included results of subsidiary Alternate Brand Solutions (India) (ABSL) which is consolidated in accordance with Accounting Standard 21. The consolidated results for the corresponding periods of the previous year also included the results of Times Innovative Media (TIM) and TIM Delhi Airport Advertising (TIMDAA).TIM and TIMDAA ceased to be the subsidiaries of the company with effect from 29 December 2010.
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