Reliance Broadcast Q1 loss comes down to Rs.15 crore

In comparison to net loss of Rs. 28.7 crore in the same quarter a year ago, Media entertainment company Reliance Broadcast Network Ltd (RBNL) had narrowed its consolidated net loss to Rs.15.75 crore in the quarter ending June 30, driven by good performance of radio and television business.

RBNL's net sales in the quarter under review were at Rs. 57.45 crore compared to Rs. 47.09 crore in the corresponding quarter a year ago, the company said in a statement on Monday.

Tarun Katial, CEO, RBNL said, “We have had a robust quarter and reached break-even at the operating level. Our radio business has delivered its highest ever Q1 performance and fortified its position as the leading national network in circles like Delhi and Kolkata.”

Revenue from radio in the quarter went up by 31.26 per cent at Rs.47.27 crore and revenue from television went up by 36.85 per cent at Rs. 8.43 crore. Revenue from production and outdoor were at Rs. 5.9 crore, up 11.95 per cent and Rs. 1.95 crore, down 66 per cent respectively.

Overall expenses in the quarter were at Rs. 71.98 crore, registering an increase of 5.28 per cent from Rs. 68.37 crore logged in the corresponding quarter a year ago.

Source: http://cablequest.org/news/national-news/item/2979-reliance-broadcast-q1-loss-comes-down-to-rs-15-crore.htmlSource: http://cablequest.org/news/national-news/item/2979-reliance-broadcast-q1-loss-comes-down-to-rs-15-crore.html