India's Network18 Media & Investments falls after Q2 loss widens

Network18 Media & Investments

14/10/2024 06:09

** Shares of Network18 Media & Investments Ltd  NEFI.NS 
fall as much as 3.2% to 78.8 rupees
    ** Media co reported a wider Q2 consol net loss of 958.4 mln
rupees ($11.4 mln) from a loss of 830.8 mln rupees a year ago
    ** Q2 rev fell 2.2% YoY, with larger entertainment segment
down 5.4%, and total expenses rose 1.7%
    ** Stock on track to fall for third straight month
    ** More than 1.2 mln shares traded as of 10:32 a.m. IST, vs
30-day moving avg of over 3.1 mln shares
    ** NEFI last down 2.4%, adding to YTD losses of 9.5% so far

($1 = 84.0670 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))