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Reliance MediaWorks quarter net loss at Rs 2.33 bn

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MUMBAI: Media and entertainment company Reliance MediaWorks has reported a consolidated net loss of Rs 2.33 billion for the quarter ended 30 September compared to Rs 1.20 billion for the same period last year.

The company?s total income from operations stood at Rs 2.14 billion in the quarter which is 8.59 per cent lower than Rs 2.35 billion reported in the earlier quarter.

The current fiscal of the company extended till 30 September. In a filing on the Bombay Stock Exchange, the company informed: "The data in respect of the 18 months from April 1, 2010 to September 30, 2011 has been derived as a summation of the data for the year ended March 31, 2011 and the half year ended September 30, 2011. Accordingly, results for the quarter ended September 30, 2011, have been included as the corresponding quarter."

Reliance MediaWorks? revenue from film production services business stood at Rs 353.5 million. Income from theatrical exhibition and television/film production and distribution segments was Rs 1.63 billion and Rs 173.9 million respectively.

The company?s current liabilities stood at Rs 20.89 billion. Earlier this year, the company?s board had approved raising up to Rs six billion through rights issue to ?substantially reduce the debt? and is in the process of raising another Rs 6.05 billion from a foreign private equity fund by selling a substantial minority stake in its Film and Media Services division.

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