In its Q2FY25 earnings announced on Saturday, the Reliance Industries (RIL) promoted company posted an increase in net losses on a YoY and QoQ basis. The company had reported a net loss at Rs 125 crore in Q1FY25. The loss is attributable to the owners of the company.
The revenue from operations at Rs 1,825 crore, which was down by 2.2% over Rs 1,866 crore reported by the company in the year ago period.
This is Netwok18’s first quarterly earnings following the merger of Network18, TV18 Broadcast Ltd. (TV18) and e-Eighteen.com (E18) which became effective on October 3, 2024.
In its corporate filing to the exchanges, the company claimed that the merger has created India’s largest platform-agnostic news media with footprints across languages.
Shareholders of TV18 will get 100 shares of Network18 for every 172 shares of TV18 while shareholders of E18 Will get 19 shares of Network18 for every 1 share of E18, the filing said.News portfolio revenue grew 6% primarily driven by growth in Digital segment ad revenue across all platforms. TV advertising was soft during the quarter as industry advertising volumes for the news genre declined by ~20% YoY. News’ share in overall advertising inventory consumption also declined by over 200 bps YoY and QoQ.Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the news business continued to improve with a sharp turnaround in the first half of the fiscal, the filing said.
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