BAG cuts down the operating losses

The company, which has diverse interests across broadcasting, television production and radio businesses, kept a hold on its expenses, while its TV channels' revenue surged upwards.

The operating loss in the TV broadcasting segment, which includes Hindi news channel News24 and Bollywood entertainment channel E24, was at Rs 20.55 million compared to Rs 185.8 million a year ago.

Revenue from the two channels surged 140 per cent toRs 123.78 million. While News24 posted a revenue of Rs 67.46 million (61 per cent up year-on-year), revenue of E24 jumped to Rs 56.33 million compared to Rs 9.62 million in the corresponding quarter of the previous year, an upward swing of 485 per cent.

Meanwhile, the company's FM radio business, functioning under the Dhamaal 24 brand, had a second-quarter operating loss of Rs 1.07 million as against Rs 2.64 million in the previous year quarter.

BAG posted a consolidated net loss (before minority interest) of Rs 89.17 million, compared to a loss of Rs 299.83 million in Q2 2009.