Saturday, February 18, 2012

Network18 revenues up, but posts net loss in Q3

News this week: Indian media group, Network18, the controlling shareowner of B2B publisher Infomedia18, announced financial results for the quarter ended 31st December 2011. Group revenues were US$102 million, an increase of 24% over the same quarter in 2010. Citing increased expenses and the cost of starting new channels, the group reported a net loss of US$17 million compared with profits of US$16 million in Q3 last year.

Mumbai-based Infomedia18 operates a variety of companies covering online, publishing and events. The company recorded revenues of US$9 million and a loss of US$4 million in the quarter. Infomedia18 was also previously the partner of in India.

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