MAM
Reliance MediaWorks quarter net loss at Rs 2.33 bn
MUMBAI: Media and entertainment company Reliance MediaWorks has reported a consolidated net loss of Rs 2.33 billion for the quarter ended 30 September compared to Rs 1.20 billion for the same period last year.
The company‘s total income from operations stood at Rs 2.14 billion in the quarter which is 8.59 per cent lower than Rs 2.35 billion reported in the earlier quarter.
The current fiscal of the company extended till 30 September. In a filing on the Bombay Stock Exchange, the company informed: “The data in respect of the 18 months from April 1, 2010 to September 30, 2011 has been derived as a summation of the data for the year ended March 31, 2011 and the half year ended September 30, 2011. Accordingly, results for the quarter ended September 30, 2011, have been included as the corresponding quarter.”
Reliance MediaWorks‘ revenue from film production services business stood at Rs 353.5 million. Income from theatrical exhibition and television/film production and distribution segments was Rs 1.63 billion and Rs 173.9 million respectively.
The company‘s current liabilities stood at Rs 20.89 billion. Earlier this year, the company‘s board had approved raising up to Rs six billion through rights issue to ‘substantially reduce the debt‘ and is in the process of raising another Rs 6.05 billion from a foreign private equity fund by selling a substantial minority stake in its Film and Media Services division.
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Primus Partners appoints Akasa Air co-founder Neelu Khatri as independent director
Veteran aviation and defence professional joins as independent director
NEW DELHI: Primus Partners has appointed Neelu Khatri, a founding member of Akasa Air, as an independent director, strengthening the consulting firm’s board as it prepares for its next phase of growth.
Khatri brings more than three decades of experience across defence, aviation, aerospace technology and consulting. She was part of the core team that helped build Akasa Air from concept to launch, contributing to what has been widely described as one of the fastest airline scale ups in recent aviation history.
At Primus Partners, she will provide strategic guidance on corporate governance and help steer the firm’s long term growth plans. Her experience of building a start up into a full scale organisation is expected to support the consulting firm as it expands its footprint.
Primus Partners co-founder and chairperson Davinder Sandhu, said the appointment brings valuable expertise to the board. “Neelu’s journey across defence, aviation and consulting brings a rare blend of operational insight and strategic thinking. Her experience in rapidly scaling Akasa Air will be invaluable as we continue to grow while maintaining a strong focus on corporate governance,” he said.
Primus Partners, an India headquartered management consulting and solutions firm, has emphasised governance and board oversight since its early days. The company has also taken an unconventional approach by inviting its Gen Z employees to attend board meetings so that younger perspectives can contribute to discussions.
Speaking on her appointment, Khatri said the consulting sector is entering a transformative period shaped by emerging technologies. “The industry is evolving rapidly with the rise of AI. This is an exciting moment for an Indian origin consulting firm like Primus Partners to expand its product offerings and strengthen its presence globally,” she said.
She added that as the firm pursues ambitious expansion plans, her focus will be on ensuring strong governance frameworks and effective risk management as the organisation scales.
