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Corporate Feb 11, 2013

Reliance MediaWorks cuts loss to Rs 120 cr for Q3

Mumbai: Media and entertainment company

Reliance MediaWorks chief Anil Ambani. Reuters

Reliance MediaWorks chief Anil Ambani. Reuters

narrowed its net loss to Rs 119.61 crore in the quarter ended 31 December 2012.

Its net loss stood at Rs 151.11 crore in the same period last year, the Anil Ambani-led company said in a filing to the BSE today.

Reliance MediaWorks operates three businesses -- film distribution under BIG Cinemas, TV production unit under BIG Synergy, and a film and media services segment.

Total income from operations was lower at Rs 206.95 crore in the quarter under review, compared to Rs 211.06 crore in the October-December 2011 quarter.

Film production services business accounted for Rs 32.21 crore of revenues, while those from theatrical exhibition and television/film production and distribution segments stood at Rs 142.44 crore and Rs 33.44 crore in the reported quarter, respectively.

On a standalone basis, the company's net loss stood at Rs 89.20 crore in the October-December 2012 quarter against a loss of Rs 115.13 crore in the same quarter of 2011.

Total income, on standalone basis, was at Rs 135.91 crore in the reported quarter as against Rs 129.06 crore in October-December 2011 quarter.

PTI

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