Network18 reports Q2 net loss of Rs 27 cr

Network18 Media and Investments today reported a consolidated net loss of Rs 27.42 crore for the second quarter ended September 30.
The company had registered a consolidated net loss of Rs 36.46 crore in the same period a year ago.
Network18's total income from operations for the September quarter stood at Rs 795.1 crore. It was Rs 736.12 crore during the same period previous fiscal.
The company said the results were not comparable as it sold entire stake in Stargaze Entertainment for Rs 43.29 crore.
During the quarter, Network18 Media and Investments revenue from media operations grew by 4.62 per cent to Rs 758.51 crore while its revenue from film production and distribution reported over twofold jump at Rs 42.62 crore.

Shares of Network 18 closed at Rs 50.25, down 2.62 per cent from previous close on BSE.