IBN Lokmat Q1 narrows net loss to Rs 40 mn

MUMBAI: Marathi news channel IBN Lokmat has narrowed its first-quarter net loss to Rs 40 million as revenue jumps over the earlier-year period.

A joint venture between IBN18 and Lokmat Group, IBN Lokmat had kicked in losses of Rs 70 million in the year-ago period.

Income from operations jumped 194 per cent to Rs 40 million, from Rs 10 million in the first quarter of FY‘10.

Revenue, however, has dropped from the trailing quarter which had seen an income of Rs 50 million.  
     
  Operating loss (Ebitda) dropped to Rs 30 million, from Rs 60 million in the prior year. However, it was higher than Rs 20 million posted in the trailing quarter.

IBN Lokmat‘s expenses remained flat at Rs 70 million, indicating that costs had more or less stabilised.