MUMBAI: Oye FM, TV Today Network’s FM radio division, has posted an operating loss of Rs 43.09 million in the three-month period ended 31 December, 2011.
The company had posted an operating loss of Rs 61.11 million in the corresponding quarter of the previous fiscal. In the trailing quarter, the radio segment loss was at Rs 50.49 million.
Oye FM’s revenue for the quarter under observation stood at Rs 21.47 million, up 137.24 per cent, compared to the corresponding quarter of previous fiscal (Rs 9.05 million).
In the quarter ended 30 September, the revenue from the radio segment stood at Rs 18.39 million.
Oye FM operates across seven cities – Mumbai, Delhi, Kolkata, Amritsar, Jodhpur, Patiala and Shimla.