MUMBAI: The television broadcasting business of BAG Films and Media has reported operating loss of Rs 45.92 million for the three-month period ended 31 December compared to operating profit of Rs 0.24 million a year ago.

This is despite a 34.77 per cent jump in revenue from this segment over the earlier year.

BAG Films and Media, which owns and operates Hindi news channel News24 and Bollywood channel E24, reported revenue of Rs 212.17 million from the quarter ended 31 December, as against Rs 157.44 million in the corresponding quarter of the previous fiscal.

However, the radio business housed under Dhamaal24, once again suffered losses, as its income from the segment dropped. The segment loss stood at Rs 4.34 million compared to a profit of Rs 34.19 million a year ago.

Revenue from the segment stood at Rs 14.37 million, down from Rs 53 million.

BAG Films‘ consolidated net loss stood at Rs 89.2 million for the quarter under review, up from Rs 38.44 million it reported in the corresponding quarter of the previous fiscal.

The company saw a 27.41 per cent increase in revenue for the quarter at Rs 274.66 million, as against Rs 215.57 million in the year-ago period. Expenses, though, surged 47.10 per cent to Rs 405.23 million compared to Rs 275.47 million in Q3 of FY‘11, led by cost of production.

Operating loss (before other income, interest & exceptional items) stood at Rs 130.57 million, compared to Rs 59.90 million a year ago.

The audio visual production segment, Studio 24, posted an operational loss of Rs 5.29 million, as against a loss of Rs 10.80 million. Revenue stood at Rs 46.54 million, up from Rs 5.13 million.