Reliance Broadcast narrows Q1 loss to Rs 15 crore

Media entertainment company Reliance Broadcast Network Ltd (RBNL) has narrowed its consolidated net loss to Rs 15.75 crore in the quarter ended June 30, driven by good performance of radio and television business.

The company, part of the Anil Ambani-led Reliance Group, had reported net loss of Rs 28.7 crore in the same quarter a year ago.

RBNL's net sales in the quarter under review were at Rs 57.45 crore compared to Rs 47.09 crore in the corresponding quarter a year ago, the company said in a statement on Monday.

"We have had a robust quarter and reached break-even at the operating level. Our radio business has delivered its highest ever Q1 performance and fortified its position as the leading national network in circles like Delhi and Kolkata," RBNL CEO Tarun Katial told PTI.

Revenue from radio in the quarter went up by 31.26 per cent at Rs 47.27 crore and revenue from television went up by 36.85 per cent at Rs 8.43 crore. Revenue from production and outdoor were at Rs 5.9 crore, up 11.95 per cent and Rs 1.95 crore, down 66 per cent respectively.

Overall expenses in the quarter were at Rs 71.98 crore, registering an increase of 5.28 per cent from Rs 68.37 crore logged in the corresponding quarter a year ago.

"We continue to expand the reach of our TV channels. We have steadily expanded distribution, benefiting from phase II of television digitisation. Also, TRAI's mandate to regulate advertisement inventory to 10 minutes per clock hour will translate into more equitable distribution of advertisement inventory across channels, resulting in increased advertisement flow," Mr Katial said.

RBNL operates 92.7 BIG FM under its radio business, while it runs channels - BIG CBS Love, BIG CBS Prime and a regional general entertainment channel 'Spark' for Punjab, Chandigarh and Himachal Pradesh (PCHP) region under its joint venture with CBS Studios International.

It has another joint venture with Europe's RTL Group and operates BIG RTL THRILL - a dual feed channel targeted at male audiences and BIG MAGIC, a general entertainment channel.

The company announced its results post market closure.

Shares in RBNL, on Monday, ended at Rs 32.80 apiece on the BSE, down 4.93 per cent from the previous close.