Network18 For Rs. 2 Billion Rights Issue; Q1 Loss Of Rs. 42 Million
By Nikhil Pahwa - Thu 02 Aug 2007 08:13 PM PST
Network18 Fincap, the holding company for TV18 and GBN intends to raise Rs. 2 billion via a rights issue, reports Indiantelevision. The money, as per a source, will be used for repayment of high cost debt and investment in media opportunities. More here.
Network18 Fincap posted a consolidated Q1 net loss of Rs 42 million, as opposed to a profit of Rs 268.7 million for the same quarter last year. Lots of red in the particulars (doc file).
Some stats on Network18 companies from the earnings release:
-- Moneycontrol.com claims more page views per million than wsj.com for almost for the entire quarter (were they using Alexa? Not reliable, then)
-- Ibnlive.com is ahead of ndtv.com in daily page views.
-- Homeshop18 has built the capacity to reach over 2000 towns in India.
-- Newswire18’s revenues surged more than 70% on a QoQ basis; over 1000 terminals installed in “free trial” phase – the number of terminals under full billing are ahead of the Business Plan.
Earnings Particulars (Doc) | Financials
Disclaimer: I received an inconsequential number of shares of Network18 following the TV18 restructuring last financial year.
