Network18 Media & Investments on Saturday said its consolidated net loss widened to Rs 152.31 crore in the second quarter ended September 30 on account of investments in sports and digital assets.
The company had posted a net loss of Rs 119.18 crore a year ago, according to a regulatory filing from Network18 Media & Investments, one of the largest media conglomerates in the country, owned by Reliance Industries.
However, its consolidated revenue from operations rose 1.6 per cent to Rs 1,825.18 crore for the September quarter. It was Rs 1,865.50 crore in the corresponding quarter of the preceding fiscal.
"With 6 per cent growth in News business revenue and continued improvement in margins. Overall profitability was impacted due to Sports and Digital investments in Viacom18," the company said in an earning statement.
The total expenses in the September quarter rose 1.64 per cent to Rs 2,243.13 crore.
Network 18's total income for the second quarter of FY2024-25 was flat at Rs ...
