Reliance Media Suffers Rs 27-Cr Loss

[savramesh 37]

Source

MUMBAI: Reliance MediaWorks, part of Reliance ADA group, has suffered a marginal increase in loss in the December quarter on lower income. The company, which is in the business of film exhibition and television software, has incurred a net loss of Rs 27.3 crore in the October-December period, against Rs 26.9 crore in the year-ago period.

Total income for the third quarter was Rs 207.6 crore, lower than Rs 216.6 crore for the corresponding period last year. For the nine month period ended December, the company recorded a revenue of Rs 500.9 crore. In a media statement, Reliance MediaWorks said it has established its presence in the UK market and offers front-end, processing, restoration and post-production services.

Meanwhile, its exhibition business, Big Cinemas, now has over 500 screens. Exhibition is the biggest business for the company and had revenues of Rs 153.4 crore during the third quarter. “With over nine million admits, Big Cinemas has witnessed a 50% increase in footfalls this quarter compared to the previous year.” added the statement.