Siti Networks reports Q1 net loss of Rs 45.81 crore

Cable TV distributor Siti Networks on Tuesday reported a consolidated net loss to Rs 45.81 crore for the first quarter ended on June 30, 2020. The Essel Group firm had posted a net loss of Rs 49.48 crore in April-June quarter a year-ago.

Its total income during the quarter under review stood at Rs 382.84 crore. It was Rs 394.67 crore in the corresponding quarter last fiscal, Siti Networks said in a BSE filing. Anil Malhotra, CEO of Siti Networks said the company has performed significantly well in view of the worldwide impact of COVID-19 pandemic induced severe lockdown in the entire country and migration of urban population in first quarter of 2020-21. "Cyclone Amphan in our strong hold territory of eastern India has also impacted our business during the Q1FY21," he said. Shares of Siti Networks were trading 4.47 per cent lower at Rs 1.71 apiece on BSE.

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