reports lower Q3 net loss

Tuesday, 20 January 2004, 08:00 Hrs
Printer Print Email Email
MUMBAI: NASDAQ listed India has reported lower net loss of $0.16 million for the third quarter ended December 31, 2003 as against $2.6 million in the same quarter of 2002.

The total revenues for the reporting quarter rose marginally at $3.6 million as compared to $3.3 million in October-December 2002, the company said in a release on Friday.

The company for the first time posted a positive earning before interest, tax, depreciation and amoritisation (EBITDA) of $55,000 as against EBITDA loss of $2.2 million, the release said.

Commenting on the performance during the quarter, company chairman Ajit Balakrishnan said the growth in Q3 was driven by Indian online revenues, increase in company wide gross margins and lower operating costs.

India online revenues contributed $1million, a growth of 54 per cent over same quarter last fiscal due to advertising and fee-based services, it said.

Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..