Reliance MediaWorks net loss narrows to Rs 1.26 bn

MUMBAI: Reliance MediaWorks has narrowed its net loss to Rs 1.26 billion for the fourth quarter ending 31 March as against Rs 1.73 billion in the same quarter last year.

As per the consolidated results, the company’s net sales for the quarter climbed to Rs 1.71 billion, an increase of Rs 357.35 million over the year-ago period.

RMW’s total income from operations rose to Rs 1.76 billion, up from Rs 1.39 billion. The company’s expenses went up marginally from Rs 2.39 billion to Rs 2.53 billion.

Revenue from film production services was Rs 517.54 million for the quarter, up from Rs 438.63 million in the same quarter last year.

Income from theatrical exhibition for the quarter jumped to Rs 1.126 billion from Rs 869.89 million while television, film production and distribution income increased to Rs 116.44 million as opposed to Rs 82.50 million in the same quarter of the previous fiscal.

For the year ended 31 March 2012, the company’s net loss widened to Rs 5.18 billion as opposed to Rs 3.29 billion in the previous fiscal.

Total income from operations for the fiscal stood at Rs 8.14 billion compared to Rs 8.36 billion a year ago. The company’s expenses for the fiscal were Rs 10.95 billion, up from Rs 9.82 billion.

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