Media firm Deccan Chronicle Holdings Ltd (DCHL) today posted a loss of Rs 46.57 crore for the quarter ended March 31, 2011.
It had a net profit of Rs 6.50 crore in the same quarter last fiscal.
The company's net sales for the quarter under review stood at Rs 308.10 crore, compared to Rs 191.65 crore in the same period last fiscal.
For 2010-11 financial year, DCHL's net profit declined to Rs 162.45 crore from Rs 260.92 crore in the previous financial year.
The firm's net sales during the year March 31, 2011, stood at Rs 976.20 crore as against 892.50 crore in 2009-10.
The figures of the quarter or year ended March 31, 2011 are not comparable with the numbers of the corresponding period of the previous year its wholly-owned subsidiaries have been amalgamated with the company with effect from April 1, 2010.
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The company has got court orders for amalgamation of Netlink Technologies, Deccan Chargers Sporting Ventures and Odyssey India Ltd with itself.
The firm has also announced buyback of up to 3,45,00,000 equity shares from open market through stock exchanges at a maximum price of Rs 180 per share with a total outlay of 270 crore.
"The scheduled date of the opening and closing of buyback is May 16, 2011 and January 3, 2012 respectively," the filing added.
The company's shares closed at Rs 78.90 per share, down 2.95% compared to the previous close on the Bombay Stock Exchange.