Television

IBN18 Q1 standalone net loss at Rs 190 mn

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MUMBAI: IBN18 Broadcast has posted a standalone net loss of Rs 190 million for the three months ended 30 June, swinging away from a net profit position as it gained political advertising from the general elections in the earlier-year quarter.

Total income dropped 9 per cent to Rs 520 million, indicating the windfall from political ads was short-lived. In the first quarter of FY'10, the company had posted a standalone net profit of Rs 170 million on a revenue of Rs 570 million.

The standalone results constitute the financials of English and Hindi news channels CNN IBN and IBN7.

In the quarter under review, IBN18 has reported an operating loss of Rs 70 million, up from a loss of Rs 60 million in the prior-year period.

Expenses rose 15.68 per cent to Rs 590 million, as against Rs 510 million in the corresponding quarter of the previous fiscal.

IBN18's consolidated net loss stood at Rs 110 million. Total income was at Rs 1.73 billion, while expenditure stood at Rs 1.68 billion for the quarter.

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