Network 18’s consolidated net loss at Rs.34.68 crore in 2015-16

Mumbai, April 20 (IANS) Network 18 Media and Investments on Wednesday reported a consolidated net loss of Rs.34.68 crore for fiscal ended March 31, 2016.

The company had reported a net loss after taxes, minority interest and share of loss of associates of Rs.1,059.90 crore for the year ended March 31, 2015.

The company’s consolidated total income increased by 9.51 percent to Rs.3,494.98 crore during the fiscal under review, from Rs.3,191.38 crore earned last year.

Further, the company reported a consolidated net loss of Rs.3.70 crore for the quarter ended March 31, 2016, from a net profit of Rs.10.5 crore in the corresponding quarter of last fiscal.

The company’s consolidated total income rose by 5.64 percent during the quarter under review to Rs.920.51 crore from Rs.871.39 crore during the like quarter in the previous fiscal.

In addition, TV18 Broadcast, a listed subsidiary of Network18, too reported its fiscal and quarterly results.

The company’s consolidated net profit after taxes, minority interest and share of profit of associates zoomed by 306 percent for the year ended March 31, 2016 at Rs.181.01 crore from a net profit of Rs.44.53 crore for the previous fiscal.

The company’s consolidated total income increased by 10.25 percent to Rs.2,612.75 crore for the year under review, from Rs.2,369.73 crore in the last fiscal.

However, the company reported a decline in its net profit for the quarter ended March 31, 2016.

The company’s consolidated net profit after taxes, minority interest and share of profit of associates fell by 13.57 percent to Rs.82.51 crore from Rs.95.47 crore for the quarter ended March 31, 2015.

The company’s total income increased by 3.6 percent during the quarter under review to Rs.682.15 crore from Rs.658.48 crore for the corresponding period of last fiscal.

–IANS

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