Saturday, June 04, 2011

Network18 cuts loss

News this week: Earlier this week, Network18 announced its financial results for the year ended 31st March 2011. The group’s revenues were US$333 million - an increase of 16% over the previous year. The group recorded a net loss of US$8.3 million which is an improvement over the loss of US$29 million recorded in 2010.

The Group also announced its results for the quarter ended 31st March. Revenues were US$91 million, up 1.8% over the same quarter last year. Network18 posted a loss of US$9.9 million in the quarter compared with a profit of US$1.6 million in the same quarter last year.

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