 "Network18 Media & Investments reports Rs 12.14 cr loss in Q3")
The company, which today announced appointment of A P Parigi as its Group Chief Executive Officer with effect from January 29, 2015, had posted a net loss of Rs 11.72 crore in the same period last fiscal.
Total income from operations was at Rs 831.90 crore as against Rs 727.59 crore in the same quarter last fiscal.
More From This Section
The loss was mainly due to outgo on minority interest that stood at Rs 27.74 crore during the period under review as against Rs 22.83 crore in the corresponding quarter last fiscal.
Revenue from media operations was at Rs 810 crore as against Rs 692.06 crore in the year-ago period, while that of film production and distribution was at Rs 11.99 crore as compared to Rs 35.53 crore in Q3 last fiscal.
Shares of Netwrok18 Media & Investments ended the day at Rs 62.35 per scrip, down 4.52% from the previous close on BSE.
In a separate filing, the company said as part of its strategy to strengthen leadership and businesses, Parigi will join as the Group CEO - Network 18 and will be based in Mumbai.
Commenting on Parigi's appointment, Network 18 Chairman Adil Zainulbhai said: "Parigi has built a raft of customer-facing brands, technologies, businesses and management teams. His wisdom and leadership is sure to take N18 to the next level."
Prior to Network 18, Parigi was Managing Director & CEO of Entertainment Network India Limited (ENIL)/Radio Mirchi. Previously, he has also worked as CEO of BPL Mobile Communications, and Managing Director & Group CEO of Eros Meida International Ltd.