Network 18 group posts cons loss at Rs 70.3 cr in Q2
Network 18 group has reported a consolidated net loss of Rs 70.3 crore in the second quarter of FY12 as against Rs 64 crore in the previous quarter.
But operating revenues jumped 17.2% to Rs 425.4 crore from Rs 363 crore during the same period.
In the first half of FY12, the company posted a net loss of Rs 134 crore and operating revenues of Rs 789 crore.
Commenting on the results for the quarter, Haresh Chawla, Group CEO, said, “The quarter gone by was tough yet steady for our businesses. Advertising revenues may continue to see tepid growth for a few months more driven by domestic and global factors. We continue to profitably grow our existing core operations offset by investments we are making towards building out our portfolio of television channels and ecommerce properties to further consolidate our market position.”
....more info