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IBN Lokmat reduces Q2 loss on back of political ads

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MUMBAI: IBN Lokmat, the JV company of IBN18 and Lokmat Group that runs a Marathi news channel, has posted a net loss of Rs 54.40 million for the quarter ending September 2009.

The channel, which was launched in March 2008, had suffered a net loss of Rs 96.46 million in the year-ago period.

Income from operations has jumped three-fold to Rs 25.51 million, up from Rs 6.22 million.

The company said that on the back of the Maharashtra Assembly elections, the Q-o-Q revenue of the channel has gone up by 84 per cent.

Meanwhile, the channel has also managed to curtail expenses to Rs 59.41 million in the quarter, as against Rs 86.39 million in the prior year period.

Operating loss has dropped to Rs 33.91 million, from Rs 80.17 million in Q2 FY’09.

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