MUMBAI: HT Media’s radio venture Fever FM has posted a loss of Rs 23.3 million for the quarter ended 30 September 2009.
The losses however were down in this quarter, as the previous quarter had showed losses to the extent of Rs 26.3 million.
Revenues in the second quarter were Rs 97.8 million, up from Rs 88.3 million during Q1.
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The radio business of HT Media was demerged from subsidiary company HT Music and Entertainment (HTME) earlier this year. The company has earlier said that high brand building cost, delay in availability of common infrastructure resulting in substantial investment in transmission facilities for Delhi and Mumbai FM Radio stations have set it back, but that it expects the year 2009 -2010 to earn positive results for the radio business.
For the parent company, total revenues increased by 4.15 per cent year on year to Rs 3,481 million from Rs 3,342 million. The company credited Rs 98 million on account of merger of the radio business, effective 1 January 2009. These increases have been offset to the extent of marginal decline in advertisement revenues of the publishing segment to Rs 2,821 million from Rs 2,831 million, said HT Media in a statement.
