Tuesday, October 21, 2008

Wire and Wireless net loss widens at Rs 21.97 cr

Mumbai, Oct 21: Cable television distribution firm Wire and Wireless India Ltd today posted consolidated net loss from ordinary activities after tax of Rs 21.97 crore for the second quarter ended September 30, against a net loss after tax of Rs 22.69 crore in the corresponding period last year.

The total income rose to Rs 83.75 crore for the quarter under review, from Rs 63.51 crore in the second quarter of the previous fiscal, Wire and Wireless India Ltd (WWIL) said in a filing to the Bombay Stock Exchange.

On the standalone basis, the media firm reported a net loss from ordinary activities after tax of Rs 25.76 crore for the September quarter, against a net loss of Rs 27.12 crore in the corresponding period last fiscal.

The standalone total income of the firm rose to Rs 61.08 crore in the reviewed quarter, from Rs 50.04 crore in the same period a year-ago.

For six months ended September 30, the Essel group company announced a net loss of Rs 40.28 crore, while the net loss in the corresponding period last fiscal was at Rs 42.98 crore.

Subhash Chandra-led Wire and Wireless India Ltd is Zee's demerged cable television distribution company.

Shares of the company closed at Rs 12.05, down 524 per cent on the BSE.

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