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Network18 widens consolidated loss to Rs 168.25 crore in Q4

10 May 2012 Evaluate

Network18 has broadened its net loss on consolidated basis to Rs 168.25 crore for the fourth quarter ended March 31, 2012, from Rs 44.14 crore recorded during the corresponding period in the previous year. The net loss was on account of NW18 incurring one-time losses of Rs 23.9 crore for discontinued operations - deferring the launch of a proposed hindi movie channel and The Indian Film Company (TIFC).

The company incurred further loss of Rs 30.1 crore during the quarter because of the launch of new channels -- Sonic, Comedy Central and Colors HD and History TV18.

For the financial year 2011-12, NW18 reported 31.5% increase in operating revenue at Rs 1,952 crore. The company had posted operating revenues of Rs 1484.10 crore in 2010-11. The growth in revenues largely came due to an increase of 43.5% in revenues from entertainment business to Rs 792 crore. Net loss during the year stood at Rs 388.5 crore as compared to net loss of Rs 36.70 crore registered in 2010-11. 

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