wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Q409 Results: Infomedia18 QoQ Net Loss Shoots Up 51% To Rs 462 Million; AskMe Delayed? Reed JV

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…

Please subscribe/login to read the full story.
Written By

http://www.linkedin.com/in/preethij

Free Reads

News

The service from the tie-up will initally be launched at Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam railway stations

News

The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.

News

Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ