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Network18 posts a loss of Rs 1.15 cr on revenues of Rs 793.6 cr in Q1-FY16

RIL owned Network18 has reported a loss of Rs 1.15 crore for the quarter ended June 30, 2015, as opposed to a net profit of Rs 10.58 crore last quarter, and a loss of Rs 1021.87 crore in the same quarter last year. The company’s total operational revenue stood at Rs 79.36 crore for the quarter, down 90.5% from Rs 841.4 crore last quarter and Rs 70.83 crores in the same quarter last year. For the financial year ended March 31, 2015 (FY15), Network18 reported operational revenue of Rs 793.64 crore, down 74.6% from Rs 3,126.6 crore in the last quarter, and Rs 708.39 crore from the same quarter last year. Note that late last month, Network18 Media owned English news channel CNN-IBN lost its CNN prefix as it ended its 10 year brand licensing deal with Turner Broadcasting System. In a filing with the Bombay Stock Exchange, TV 18 said that the company and CNN “will be successfully concluding their ten-year brand licensing and news services arrangement for use of the CNN brand and CNN news content in January 2016″. Note that Network18 stopped releasing financial information related to its digital content and commerce business, after the takeover by Reliance Industries. So, we’re not sure how its digital content business is performing. The company currently only reports segment-wise  financial information for its Media Operations and its Film Production and Distribution businesses. Segment-wise performance Network18’s media operations generated Rs 718.79 crore revenues, down 13.6% from Rs 832.6 crore in the previous quarter, Rs 694.07…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

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