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IBN18 Net Losses Down 87%, IBN Lokmat’s Losses Reduce

IBN18 Broadcast, a subsidiary of Network18 group that runs , has witnessed an 87%  fall in consolidated net losses in the quarter ended December 2009 from Rs. 823.68 million in September quarter to Rs. 106 million now. They were also 51.5% lower than Rs. 218.8 million the company reported in the December 2008 quarter. Consolidated net sales were up 40.8% quarter on quarter to Rs. 1.93 billion, and 2.55 times that recorded in December 2008. Expenses rose from Rs. 1 billion in the corresponding period last year to Rs. 1.84 billion. Consolidated EBITDA stood at Rs. 87.3 million. Update: In an interview with CNBC-TV18, Network18 MD Raghav Bahl said that IBN7 had turned EBITDA positive, and IBN18 also benefited significantly from Viacom18 reporting excellent results, on account of the performance of their channel Colors. Details: Financials | Release On a…

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