Updated below Original Story (14:30 hrs): Infomedia18, which owns various publications such as Overdrive, Chip, T3 and Better Interiors, and the classifieds portal Yellow Pages has posted a net loss of Rs 462 million as expenses spiralled during the fourth quarter 2009. Television18 India, part of the Network 18 Online group, holds a controlling stake in the company. Infomedia18's expenses rose to Rs 672 million due to rent, advertising and publicity which cost Rs 43.43 million and Rs 41.61 million respectively. The company has set aside Rs 6.04 million as doubtful debts - either protecting its future or for tax benefits. Other expenses clocked Rs 168.73 million. Net sales fell by 15% to Rs 311.77 million on a quarter on quarter basis and by almost 22% from the same quarter last year when net sales stood at Rs 398.7 million. Publishing, which was to be developed into Infomedia's growth engine according to the outlook given in the previous quarter, contributed Rs 248.8 million to revenues while printing contributed to Rs 62.1 million. Details: Financials(pdf) | QoQ numbers from the NSE | No Concall scheduled yet No Effect Yet Of Cost Cutting; Income Tax Issues In the last quarter, Infomedia18 undertook a restructuring and right sizing exercise to cut costs, including vacating its leased offices, but the measures do not seem to have helped the firm yet. It had estimated annualised savings of Rs 140 million from the restructuring, the impact of which was to flow from Q4. It has cost Infomedia18 Rs. 23 million towards…
