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TV18 FY'09 net loss at Rs 1.66 bn
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MUMBAI: Television Eighteen India Ltd (TV18) has posted a consolidated net loss of Rs 1.66 billion for the fiscal ended 31 March 2009, as against a net profit of Rs 55.71 million.


“Annual accounts include several provisions and one-off adjustments, including provisions for lapsed warrants and consolidation of newly acquired businesses like Infomedia18. A year-on-year comparison is strictly not possible,” the company explains.

Revenue of the company, which includes CNBC TV18, CNBC Awaaz, Newswire18, Web18 and Infomedia18, increased 23.04 per cent to Rs 4.90 billion, as against Rs 3.98 billion in the previous fiscal.

Expenditure surged 88.88 per cent to Rs 6.62 billion, up from Rs 3.50 billion a year ago.

Says TV18 MD Raghav Bahl, “The financial year gone by was easily one of the most challenging for the corporate world. We are happy to share that revenues could be bouncing back from the low levels recorded in the second half of the previous year.”

Revenue from Web18, the company's online properties, stood at Rs 712.10 million, up eight per cent from the year ago period. TV18 has written off the aggressive marketing costs for Web18, the company said.

Huge losses are kicking in from Infomedia18, which has unveiled Yellow Pages in new look and acquired “Ask Me” and “Burrp” brands during the fiscal.


Says Bahl, “Infomedia18 is undergoing a revamp, after which the operations will not only be much more cost effective but would have added new revenue streams.”
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