RBNL Q2 television loss narrows to Rs 116.6 mn

MUMBAI: Reliance Broadcast Network Limited (RBNL) has narrowed its loss before tax and interest from the television business to Rs 116.6 million in the second quarter ended 30 September from Rs 228.3 million a year earlier.

RBNL?s revenue from TV business rose 121 per cent to Rs 83.56 million in the second quarter from Rs 37.65 million a year earlier.

RBNL runs six channels, four of them in joint venture with CBS Network which includes Big CBS, Big CBS Love, Big CBS Spark and a regional general entertainment channel called Spark Punjabi. It also runs Big RTL Thrill in JV with Europe?s RTL Group. Besides, it also has a regional General Entertainment Channel for the Hindi heartland called Big Magic.

The company?s radio broadcasting business Big FM posted loss before tax and interest of Rs 22.27 million in the second quarter against a profit of Rs 120.27 million a year earlier, as its revenue shrunk 31 per cent to Rs 392.5 million from Rs 571 million. In the first quarter of this year, its loss before tax and interest was Rs 14.14 million.

The company?s consolidated net loss for the second quarter was Rs 217.1 million, down from Rs 244.5 million a year earlier.

RBNL?s consolidated net income from operations shrunk to Rs 526.1 million in the second quarter from Rs 557.1 million a year earlier. However, the decline in revenue was offset by control in expenditure, which fell 30 per cent to Rs 701.3 million from Rs 960.2 million a year earlier.

The company said its total borrowing as on 30 September was Rs 3.14 billion.