India's Network18 slides on wider Q3 loss

Network18 Media & Investments

15/01/2025 07:58

** Shares of Network18 Media & Investments  NEFI.NS  fall as
much as 4.7% to 58.6 rupees, last down 4.5% 
    ** Co reports Dec-qtr consol net loss of 14.35 bln rupees
($165.8 mln) from loss of 588.2 mln rupees a year ago
    ** Reports one-time expense of 14.26 bln rupees related to
Viacom 18 ceasing to be a unit of co
    ** Rev falls 23.3% to 13.61 bln rupees
    ** NEFI has been below its 200-day simple moving avgs since
Sept, indicating bearish sentiment
    ** More than 7.6 mln shares traded, 1.7x its 30-day moving
avg
    ** Stock declined 18.1% in 2024


($1 = 86.5650 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))