Mumbai, 19th January: Television Eighteen subsidiary, Infomedia 18, announced it results for the quarter ending 31st December 2008. Revenues were US$7.65 million, an increase of 29% compared to the same quarter in 2007. The company’s net loss, however, widened significantly. Infomedia 18 posted a net loss of US$6.23 million in the quarter. In the same quarter of 2007, the company recorded a loss of US$1.43 million.
Revenues for the nine months ending 31st December were US$19 million, an 11% drop compared to same period in 2007. Infomedia 18’s net loss in the first nine months jumped from US$1.53 million in 2007 to US$7.84 million in 2008. Infomedia is a specialty B2B media group. Its key business units include directories, magazine publishing, printing services, and publishing outsourcing. In April 2008, the company formed a strategic partnership with Alibaba.com. Source: Courtesy www.bsgasia.com