Reliance Industries-owned Network18 has reported operational revenue of Rs 372.81 crore for the quarter ended December 31 (Q3 FY17), down 7.1% from Rs 401.23 crore in the same quarter last year. Sequentially, operational revenues were down 1.5% from Rs 378.66 crore. Net loss stood at Rs 60.34 crore for the quarter compared to a net profit of Rs 46.24 crore in the same quarter last year. In the preceding quarter, Network18 reported a net loss of Rs 100.41 crore. Web operations On a standalone basis, Network18’s web business reported revenues of Rs 13.1 crore. This was a decline of 9.4% from Rs 14.46 crore in the same quarter last year, but an increase of 19.6% from Rs 10.95 crore in the preceding quarter. Web operations accounted for 2.9% of Network18’s total revenues. The segment reported a loss before tax of Rs 7.45 crore compared to the loss of Rs 4.2 crore in the same period last year. In the preceding quarter, the segment reported a loss of Rs 3.53 crore. Publishing business: Network18’s publishing business generated Rs 4.03 crore revenues, up 18% from Rs 3.41 crore in the same quarter last year. The company had reported publishing business revenues of Rs 5.23 crore in the preceding quarter. Publishing operations accounted for 1% of Network18’s total revenues. The publishing business includes consumer magazines like Overdrive, Better Photography, Better Interiors etc. Other highlights - Bookmyshow added 300 screens during the quarter, with average page views at 2.15 billion per month. The company…
