Companies

IBN18 Broadcast trims net loss to Rs 13 cr

PTI New Delhi | Updated on May 30, 2011

Media and entertainment firm IBN18 Broadcast Ltd has reported a net loss of Rs 13 crore for the fourth quarter ended March 31, 2011 compared with Rs 22 crore in the same quarter in the previous fiscal.

In a filing to the Bombay Stock Exchange, the company said its total income during the fourth quarter of FY11 stood at Rs 206 crore against Rs 169 crore in the year-ago period, up 21.89 per cent.

For the full year 2010-11, the net loss stood at Rs 17 crore against Rs 110 crore in the previous fiscal, the filing said. Total income grew 32.89 per cent to Rs 804 crore from Rs 605 crore.

The company said its entertainment business outfit ‘Viacom 18’ that runs channels such as Colors, MTV and Nick had Rs 271-crore revenue during the quarter ended March 31, 2011 against Rs 221 crore in the same quarter in the previous fiscal.

Its profit, however, declined to Rs 4 crore during the quarter from Rs 15 crore in the comparable period a year ago.

For 2010-11, Viacom 18’s total income stood at Rs 1,104 crore against Rs 834 crore in the previous fiscal. Its profit stood at Rs 85 crore against a loss of Rs 43 crore in 2001-10.

Revenues from the general news operations that include English news channel CNN IBN, during the fourth quarter of 2010-11, stood at Rs 69 crore against Rs 55 crore in the corresponding period a year ago.

For the entire 2010-11 fiscal, the revenue stood at Rs 244 crore (Rs 210 crore).

Meanwhile, the IBN18 Broadcast scrips were trading at Rs 88.9 per share on the BSE in the afternoon trade, up 0.11 per cent from the previous close.

Published on May 30, 2011

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