Television Eighteen (TV18) reported a net loss (consolidated) of Rs 9 crore for the first quarter ended June 30, 2008 from a net profit of 0.45 crore in the corresponding quarter last financial year.
Revenue for the quarter at Rs 92.9 crore was up 36.6 per cent from Rs 68 crore registered in the same quarter last financial year.
The groups business news revenue were up 30 per cent on a year-on-year basis to Rs 75.3 crore, Web18 revenue were up 41 per cent and Newswire18 grew by 400per cent.
The company’s press release said that TV18 has over Rs 700 crore on its balance sheet, which will be used to fund expansion in the Internet and print properties.
