News Broadcasting
IBN18 Q3 standalone net loss at Rs 109.6 mn
MUMBAI: IBN18 Broadcast Ltd has posted a standalone net loss of Rs 109.63 million for the quarter ended 31 December, marginally up from a net loss of Rs 104.05 million in the year-ago period.
The standalone results constitute the financials of English and Hindi news channels CNN IBN and IBN7.
For the quarter under review, total income increased 24.47 per cent to Rs 585.03 million. The company managed to keep the expenses under check at Rs 525.98 million, as compared to Rs 533.32 million in the corresponding quarter of the previous fiscal.
In the quarter, IBN18 has reported operating profit of Rs 59.05 million, as compared to an operating loss of Rs 63.30 million in the prior-year period.
The company said in a statement that CNN IBN managed a 48 per cent Q-o-Q revenue growth, while IBN7 has seen a jump of 39 per cent in revenue. It also said that the Hindi news channel has achieved EBITDA break-even during the quarter.
IBN18’s consolidated net loss stood at Rs 106.06 million. Total income was at Rs 1.94 billion, while expenditure stood at Rs 1.85 billion for the quarter.
