Reliance Broadband total income Rs 56 cr

Reliance Broadcast Network Ltd closed the quarter ended June 30 with a total income of Rs 55.7 crore including radio revenues of Rs 39.6 crore. Finance costs include an amount of Rs 4.7 crore relating to the previous year. Excluding the same, net loss for the quarter has reduced by 18 per cent to Rs 24 crore. The operating EBITDA, excluding TV business, was positive at Rs 3.9 crore. In its TV business, the company reported a 56 per cent reduction in Q1 operating loss to Rs 11.3 crore, led by an almost 70 per cent reduction in carriage costs. The company expects to exit the current financial year with the TV business achieving break-even at an operating level.