Reliance Industries-owned Network18 has reported operational revenue of Rs 372.81 crore for the quarter ended December 31 (Q3 FY17), down 7.1 percent from Rs 401.23 crore in the same quarter last year. Sequentially, operational revenues were down 1.5 percent from Rs 378.66 crore.

Net loss stood at Rs 60.34 crore for the quarter compared to a net profit of Rs 46.24 crore in the same quarter last year. In the preceding quarter, Network18 reported a net loss of Rs 100.41 crore.

Web operations

On a standalone basis, Network18’s web business reported revenues of Rs 13.1 crore. This was a decline of 9.4 percent from Rs 14.46 crore in the same quarter last year, but an increase of 19.6 percent from Rs 10.95 crore in the preceding quarter. Web operations accounted for 2.9 percent of Network18’s total revenues.

The segment reported a loss before tax of Rs 7.45 crore compared to the loss of Rs 4.2 crore in the same period last year. In the preceding quarter, the segment reported a loss of Rs 3.53 crore.

Publishing business:

Network18’s publishing business generated Rs 4.03 crore revenues, up 18 percent from Rs 3.41 crore in the same quarter last year. The company had reported publishing business revenues of Rs 5.23 crore in the preceding quarter. Publishing operations accounted for 1 percent of Network18’s total revenues.

The publishing business includes consumer magazines like Overdrive, Better Photography, Better Interiors etc.

Other highlights

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– Bookmyshow added 300 screens during the quarter, with average page views at 2.15 billion per month. The company acquired booking portal MastiTickets last month.

– Average monthly desktop and mobile unique visitors grew 30 percent year on year on Firstpost. The news website also launched a Hindi edition this year.

– The Hindi news channel IBN7 was re-branded and re-launched as “News18 India” during the quarter for a one-time expense of Rs 3.3 crores. - Medianama