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BAG Network Q3 consolidated revenues up 55.14 pc at Rs 212.07 mn

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BAG Network Q3 consolidated revenues up 55.14 pc at Rs 212.07 mn

BAG Network has reported consolidated revenues of Rs 212.07 million for the third quarter ended December 31, 2009, as against Rs 136.69 million in the same quarter last fiscal, a rise of 55.14 per cent. Consolidated loss saw a reduction of 47 per cent and is pegged at Rs 167.37 million for Q3 FY10, as against Rs 88.10 million for the same quarter last fiscal.

Commenting on the Q3 performance, Anurradha Prasad, Chairperson-cum-Managing Director, BAG Films & Media Ltd, said, “We are glad that our broadcasting initiatives have consistently shown growth in revenues and the losses have been substantially controlled. The period under review saw the company consolidating its position in the broadcasting sector. Our teamwork and innovative strategies helped us overcome the recessionary trend prevalent in the market. Our results reflect our unending zest to enhance investor value and we shall work towards maintaining our position of leadership in the future as well.”

BAG Network’s Hindi news channel News24 reported Q3 revenues of Rs 69.17 million, up 39 per cent as against Rs 49.67 million in the corresponding period last fiscal.

E24, the Bollywood entertainment channel from the Network, posted revenue of Rs 60.70 million for the quarter ended December 31, 2009, as against Rs 10.39 million in Q3 FY09, a jump of 484 per cent. Keeping in mind the tremendous response of the audiences, the company plans to come up with an all new avatar of E24.

Dhamaal 24, the radio network of the organisation, has reported a jump of 167 per cent it its revenues to Rs 13.98 million in Q3 FY10 from Rs 5.24 million in the corresponding period last fiscal. All 10 stations of Dhamaal 24 have now become operational.

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