IBN Lokmat Q3 net loss widens to Rs 41 mn

MUMBAI: IBN Lokmat, the 50-50 JV between TV 18 Broadcast and Lokmat Group, has finished another quarter in the red with the net loss widening to Rs 41.2 million for the quarter ended 31 December 2011.

The company, which runs 24-hour Marathi news channel IBN Lokmat, had reported a net loss of Rs 34 million in the earlier year.

Revenue from operations fell 10.42 per cent to Rs 43 million compared to Rs 48 million in the year ago period. Operating expense for the quarter also increased to Rs 71 million, from Rs 64 million in the corresponding quarter of the previous fiscal.

The increase in expense was mainly because of the hike in marketing costs during the quarter to Rs 29 million. Staff costs for the quarter remained flat at Rs 21 million, while production cost came down 10 per cent to Rs 20 million.

IBN Lokmat‘s Ebitda loss for the quarter has also gone up to Rs 27 million, from Rs 19 million a year ago.

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