Reliance MediaWorks posts net loss of Rs 54 crore in Q1 FY 11

Reliance MediaWorks posts net loss of Rs 54 crore in Q1 FY 11Reliance MediaWorks Ltd. has declared its first quarter financial results for the fiscal year 2010-11. Reliance MediaWorks Ltd. is controlled by the Reliance ADA Group.

The company has informed that it has suffered a net loss of Rs 54 crore for the June quarter of the current year. However, the company is one of the leading and fastest growing film and entertainment services firm.

The company has announced that there has been a 100% hike in its total income from its operations.

It has reported to be Rs 208 crore during the April-June period of fiscal year 2010. For the similar quarter last year, it was found out to be Rs 104 crore.

Apart from that, the earnings before interest, taxes, depreciation and amortization (EBITDA) from its operations was recorded Rs 20 crore in the quarter under review as compared to a loss of Rs 9 crore in Q1 last year.

It has also reported that the revenue from film and media services has gone up 153% and has touched Rs 73 crore.

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