Media Corporation net loss narrows to Rs 45.8 cr in March quarter Media Corporation Ltd said on Monday that its net loss narrowed to Rs 45.79 crore for the fourth quarter ending March 2023. Media Corporation Ltd (ZMCL) said in a BSE filing that the company posted a net loss of Rs 51.45 crore in the January-March quarter of the previous financial year.

Its total revenue from operations decreased by 40.38 per cent to Rs.147.69 crore in the quarter under review from Rs.247.73 crore in the corresponding quarter of the previous financial year.

ZMCL’s total expenses decreased by 18.91 per cent in the fourth quarter of FY23 to Rs. 178.33 crore as against Rs. 219.94 crore a year earlier.

Total income in the March quarter was Rs.161.82 crore, down by 35.17 per cent.

For the financial year ending March 2023, ZMCL’s net loss narrowed to Rs.68.81 crore from Rs.117.72 crore in FY22.

Its revenue from operations decreased by 16.87% to Rs. 720.62 crore in FY23.

ZMCL is one of India’s leading news networks, with 14 news channels in its portfolio, including News, WION and Business.

Shares of Media Corporation Ltd on Monday settled at Rs 8.11 per share on BSE, down 1.10 per cent from the previous close.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: May 29, 2023 | 11:13 p.m ist