Network18 Fincap, the holding company for TV18 and GBN intends to raise Rs. 2 billion via a rights issue, reports Indiantelevision. The money, as per a source, will be used for repayment of high cost debt and investment in media opportunities. More here.

Network18 Fincap posted a consolidated Q1 net loss of Rs 42 million, as opposed to a profit of Rs 268.7 million for the same quarter last year. Lots of red in the particulars (doc file).

Some stats on Network18 companies from the earnings release:
—Moneycontrol.com claims more page views per million than wsj.com for almost for the entire quarter (were they using Alexa? Not reliable, then)
—Ibnlive.com is ahead of ndtv.com in daily page views.
—Homeshop18 has built the capacity to reach over 2000 towns in India.
—Newswire18’s revenues surged more than 70% on a QoQ basis; over 1000 terminals installed in “free trial” phase – the number of terminals under full billing are ahead of the Business Plan.

Earnings Particulars (Doc) | Financials

Disclaimer: I received an inconsequential number of shares of Network18 following the TV18 restructuring last financial year.