Network18 Faces Financial Setback Amid Restructuring Gains

Network18 Media & Investments Ltd reported a significant loss of Rs 1,400 crore for the December quarter, primarily due to the Viacom18-Star India merger. The company's revenue from operations was Rs 1,360.50 crore, with exceptional gains from share sales partially offsetting the loss.

Network18 Media & Investments Ltd reported a considerable quarterly loss of Rs 1,400 crore on Tuesday, mainly attributed to the merger of its subsidiary Viacom18 with Star India, which impacted revenue comparisons.

The company's revenue from operations stood at Rs 1,360.50 crore. Despite this setback, Network18 realized a profit of Rs 25.68 crore before exceptional items, rubbing shoulders with a consolidated loss of Rs 1,425.73 crore from derecognition of subsidiaries.

In response to these figures, Chairman Adil Zainulbhai expressed satisfaction over the corporate restructuring completion, emphasizing strong television network growth and exploring regional markets to fuel further expansion.

(With inputs from agencies.)