Reliance Media World net loss at Rs 76.13 cr for FY'10

NEW DELHI: Reliance Media World ( RMWL), a part of Anil Ambani-led ADA Group, today reported a net loss of Rs 76.13 crore for the year ended March 31, 2010.

"RMWL reported a loss of Rs 76.13 crore at the net level, attributed mainly to debt servicing cost, depreciation and amortisation," RMWL said in a statement.

RMWL comprises the group's radio business 92.7 BIG FM, marketing arm BIG Live, out-of-home (OOH) business BIG Street and online and mobile solutions arm BIG Digital.

Its total income stood at Rs 180 crore for FY'10, it added.

Revenue from the radio broadcasting segment for the financial year ended March 31, 2010, stood at Rs 162.93 crore, while revenue from the outdoor segment stood at Rs 16.35 crore, it said.

"The radio business has turned EBITDA positive for full year operations, which is very encouraging. In addition, the OOH and experiential marketing divisions too are showing a steady and healthy growth in revenue which is commendable," RMWL Chief Executive Officer Tarun Katial said.

ADAG had demerged its radio business into Reliance Media World Ltd, effective from April 1, 2008.

"With media boundaries evaporating and with the consumer consuming media across multiple platforms, we are confident that our integrated approach will significantly increase the share of value for stakeholders," he added.