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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