MUMBAI: Oye FM, TV Today Network’s FM radio division, has posted an operating loss of Rs 44.56 million in the three-month period ended 31 March 2012.
The company had posted an operating loss of Rs 50.47 million in the corresponding quarter of the previous fiscal. However, in the trailing quarter, the radio segment loss was lower at Rs 43.09 million.
Oye FM’s revenue during the quarter stood at Rs 27.08 million, up 54.21 per cent, compared to the corresponding quarter of previous fiscal (Rs 17.56 million).
In the quarter ended 31 December, the revenue from the radio segment stood at Rs 21.47 million.
In the full fiscal ended 31 March, Oye FM posted a revenue of Rs 80.85 million, compared to Rs 42.15 million in the previous fiscal. The operating loss came down to Rs 185.86 million, from Rs 219.08 million during the previous fiscal.
Oye FM operates across seven cities – Mumbai, Delhi, Kolkata, Amritsar, Jodhpur, Patiala and Shimla.