Network18′s publishing subsidiary Infomedia 18 has witnessed a 75% increase in its losses from Rs 6.12 crore that it reported in the first quarter, last year, to Rs 10.69 crore in the quarter ending 30th June 2011. Total revenues for the company remained stable at Rs 23.59 crore from Rs 23.55 crore that it reported during the same quarter, last year. The company publishes business directories and magazines such as Forbes India, Overdrive, Chip, T3 and Better Interiors. While the printing business reported revenues of Rs 10.20 crore and profits of Rs 57 lakh, the company's publishing business saw revenues of Rs 15.05 crore and loss of Rs 11.6 crore. As we reported earlier, the business directories business, the new media ventures Burrp and Askme.in, and the publishing business of the company will be demerged into Network18 after its restructuring takes place, effective April 1st 2010. The company is awaiting an approval from The Delhi High Court, and accordingly the results have not been affected. However, the company's Business Directories business, New Media business and Publishing business have been considered as 'Discontinuing Operations' and the Printing business has been considered as 'Continuing Operations', for this quarter's results. The financial report also mentions that the company might sell its Printing Press business, which it has been saying since the last three quarters. Previously, it had sold off its entire stake in its four subsidiaries carrying on the Publishing BPO business, to Knowledgeworks Global Private ltd on May 4th 2010, and had reported a net gain of Rs. 106 lakhs as an…
- Cybersecurity rules: Only 15 entities reported incidents within the stipulated 6 hours, RTI reveals March 21, 2023
- MediaNama Daily: A Copyright Conundrum March 21, 2023
- Now Health Ministry says: ‘No report’ on the creation of health database by e-pharmacies March 20, 2023
- What are the new measures taken by American telecom regulator on scam robotexts? March 20, 2023
- Here’s why you should worry about Punjab’s Internet shutdown March 20, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...
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...