MUMBAI: Raghav Bahl is finding the regional language news space a tough nut to crack. Even after spending more than two years in the market, IBN Lokmat is in operating losses while revenue is showing signs of stagnating.

Set up as the joint venture of IBN18 and Lokmat Group, the Marathi news channel has posted a net loss of Rs 60 million for the three-month period ended September 2010. IBN Lokmat had reported a net loss of Rs 50 million in the year-ago period and Rs 40 million in the trailing quarter.   
     
  Revenue has stagnated at Rs 30 million compared to the year-ago period. In the trailing quarter, the company reported a revenue of Rs 40 million.

IBN Lokmat has not been able to limit quarter expenses, which are at Rs 70 million in the quarter (from Rs 60 million in earlier year).

IBN Lokmat incurred an Ebitda loss of Rs 40 million in the fiscal‘s second quarter, higher than the earlier year period and trailing quarter (Rs 30 million).

IBN Lokmat was launched in March 2008 and faces tough competition from both Zee 24 Taas and Star Majha.