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Hyderabad-based Deccan Chronicle Holdings Limited (DCHL), which is facing a host of civil and criminal suits following default on loans, reported a net loss of Rs 3.65 crore for the quarter ended December, 2013, as compared with a net loss of Rs 2.21 crore in the corresponding quarter previous year.
Revenues for the quarter declined 12.75 per cent to Rs 89.27 crore from Rs 102.32 crore while expenditure decreased 7.64 per cent to Rs 91.36 crore from Rs 98.92 crore in the corresponding previous quarter. "The revenue and expenditure have come down during the quarter compared with the previous quarter and corresponding quarter of the previous year because of scaling down of operations of retail business, loss of IPL franchisee and general economic slowdown in the country. more particularly in the state of Andhra Pradesh," the company said.
The net loss does not reflect any interest liability arising out of its previous debt even though the company calculated a simple interest of Rs 130.42 crore for the period on the borrowings.
The company has shown a Rs 9 crore decrease in short-term borrowings at Rs 3,755.93 crore as at December, 2013 as compared with Rs 3,764.54 crore as at June, 30, 2013. The balance sheet also reflected a Rs 6 crore reduction in long-term loan, which now stands at only Rs 6.67 crore as compared with Rs 13..33 crore as at June, 2013.
