The clean-up process, and that includes cleaning up of figures, by Reliance has begun. TV18 Broadcast (TV18) posted a massive loss of Rs 154.54 crore in Q1-2015. The loss would have been higher, if not for the company’s minority interest sharing Rs 54.99 crore from the overall loss.
The loss before tax for the quarter ended 30 June 2014 is Rs 214.2 crore after considering one time exceptional adjustments of Rs 223.3crore. The adjustments made by way of exceptional items to the P&L account for Q1-2015, is based on a review of the current and non-current assets of the company. The company says that these adjustments reflect the diminution in the value of certain tangible and intangible assets as well as write-offs and provisions for loans and advances and receivables. These adjustments, however, will not impact future operating profits and cash flow of the business of the company and its subsidiaries, TV18 adds (refer additional notes below)
Severance pay, doubtful debts, obsolescence result in Rs 154 crore loss in Q1-2015 for TV18 | Indian Television Dot Com
The loss before tax for the quarter ended 30 June 2014 is Rs 214.2 crore after considering one time exceptional adjustments of Rs 223.3crore. The adjustments made by way of exceptional items to the P&L account for Q1-2015, is based on a review of the current and non-current assets of the company. The company says that these adjustments reflect the diminution in the value of certain tangible and intangible assets as well as write-offs and provisions for loans and advances and receivables. These adjustments, however, will not impact future operating profits and cash flow of the business of the company and its subsidiaries, TV18 adds (refer additional notes below)
Severance pay, doubtful debts, obsolescence result in Rs 154 crore loss in Q1-2015 for TV18 | Indian Television Dot Com