WWIL Q2 net loss widens as revenue drops 17%

MUMBAI: Wire and Wireless (India) Limited (WWIL) has widened its second-quarter consolidated net loss to Rs 406.01 million as revenue dropped and investments continued for the Headend-In-The-Sky (HITS) system.

The Subhash Chandra-promoted cable TV distribution company had posted a loss of Rs 219.70 for the same period in the earlier year.


Operating revenue fell 16.66 per cent to Rs 697.97 million for the quarter ended 30 September 2009, compared to Rs 837.54 million a year ago.

"WWIL couldn‘t finalise a few carriage deals. The third-quarter income will go up as these deals get concluded," a source said.

Expenses stayed flat at Rs 911.07 million, compared to Rs 912.32 million in the year-ago period.

WWIL said it has launched HITS in the first quarter of the fiscal for future turnaround of the business. It has also come up with a rights issue of Rs 4.5 billion.

On a standalone basis, WWIL‘s net loss for the quarter stood at Rs 413.72 million (as against Rs 257.66 million). Revenue fell to Rs 477.15 million (from Rs 610.82 million), while expenses reduced marginally to Rs 715.59 million, from Rs 727.30 million in the earlier year.

WWIL promoters pledged 31.05 million shares, or 14.2 per cent stake, according to information provided by the company till 30 September 2009.

Latest Reads
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW – a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India’s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India’s leading...

Technology Software Firmware
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ‘FalconEye’ to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights™ OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo’s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo’s G-Guide xD app and remote schedule...

Technology Hardware Components
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories