Friday, May 30, 2014

Infomedia’s revenues plummet

News this week: Earlier this week, India-based media company, Infomedia Press, announced its financial results for the year ended 31st March 2014. Revenues in the period were US$6,200, compared with US$6.1 million in 2013. The management attributed the drop to the discontinuation of its printing operation in the previous year.

The operating loss in 2013-2014 was US$566,000, compared with a loss of US$2.01 million last year. The net loss for Infomedia in the year was US$1.7 million, while net loss in the previous year was US$4.04 million. Infomedia’s management is currently evaluating various options, including starting a new line of business to move the company forward, and has appointed external consultants for assistance.

For the quarter ended 31st March, revenues were US$2,900 with an operation loss of US$89,000.

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