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Network18 Media and Investments on Wednesday said its consolidated net loss more than halved to ₹60.60 crore in the first quarter ended June 30, 2020 helped by lower expenses.
The company had reported a net loss of ₹127.66 crore in the April-June 2019 quarter.
However, the firm’s revenue from operations declined 35.18 per cent to ₹807.07 crore as against ₹1,245.12 crore in the corresponding period of the previous financial year.
Its total expenses in April-June 2020 stood at ₹871.65 crore, down 33.35 per cent as compared with ₹1,307.87 crore in the year-ago period.
In a separate release, Network18 said it has partnered with Amazon Alexa, where its users will get access to live news from Network18’s top channels, including CNN-News18 and News18 India, along with their regional TV channels.
Shares of Network18 Media and Investments closed at ₹46.90 on the BSE, down 4.82 per cent from the previous close.
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