Latest News | Siti Network Q4 Net Loss at Rs 103.94 Cr

New Delhi, June 25 (PTI) Cable TV distributor Siti Network Ltd on Friday reported widening of its consolidated net loss to Rs 103.94 crore for the fourth quarter ended March 31, 2021.

The company had posted a net loss of Rs 76.64 crore in the January-March quarter a year ago, Siti Networks said in a BSE filing.

Its revenue from operations was down 15.8 per cent to Rs 380.57 crore during the period under review as against Rs 452.01 crore in the corresponding period last fiscal, the company said.

Total expenses of the Essel group company were at Rs 471.27 crore in Q4/FY 2020-21.

Meanwhile, the company also informed that its Chief Financial Officer Sanjay Berry has resigned from the company due to certain personal contingencies. His resign would be effective from June 30, 2021.

Consequent upon resignation of Berry and pursuant to the recommendations of the Nomination & Remuneration Committee and Audit Committee, the board of the company approved appointment of Gulshan Khandelwal as CFO of the company with effective from July 1, 2021.

Shares of Siti Networks Ltd on Friday settled at Rs 1.53, down 4.97 per cent from previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)