Network18 Media and Investments has made a turnaround posting an operating profit of Rs. 81.1 million in the December 2009 quarter, compared to losses of Rs. 414.15 million in the previous quarter. After two quarters of net losses piling up, the December 2009 quarter saw a significant reduction of net losses, down 73.7 percent (sequentially) to Rs. 219.18 million, this is a 50 percent decline compared to net losses in December 2008 quarter. The company's revenues rose 30.8 percent quarter on quarter to Rs. 3.7 billion. Operating expenses continue to surge every quarter, growing 11 percent sequentially to Rs. 3.6 billion. Operating margins are back up from -14.64 percent to 2.19 percent. Consolidated earnings per share have risen from -Rs.8.6 in the previous quarter to -Rs.1.92. Details: Financials | Release The Group Companies in the Network18 group include broadcasting companies TV18 (results were reported earlier here) and IBN18 (results here), digital media company Web18 (results), publishing house Infomedia18 and wire agency Newswire18. The group also owns stake in broadcasting company Viacom18, multi-platform shopping division HomeShop18; E18 & Sports18, the distribution arm Setpro18 and its investments advisory division. It also runs The Indian Film Company (TIFC). Standalone net losses have reduced 52.5 percent to Rs. 50.8 million from Rs. 107.11 million reorded in the September 2009 quarter, a reduction of 65.7 percent year on year. In Q409, the company had recorded standalone profits of Rs. HomeShop Revenues Up 40% QoQ, Setpro Rev Down HomeShop18, the shopping business of Network18, reported revenues of Rs. 152.23 million, double that registered…
