Deccan Chronicle Holdings Limited (DCHL) today put its net loss for the quarter ended June 30 stood at Rs 26.66 crore as against Rs 166.24 crore loss during the corresponding period in FY2011-12.
Total income from operations stood at Rs 91.20 crore during the April-June quarter. The beleaguered city-based publishing house reported Rs 150.43 crore income during the same quarter in previous year, DCHL said in a filing with bourses.
As the financial year 2011-12 was extended by six months till September 30, 2012, the current financial year will end on September 30, 2013, the company said in the statement.
"Some of the lenders and creditors of the company have petitions/legal suits petitions before debt recovery tribunals and various courts/ other forums for the recovery of debts.
"The management is taking necessary legal recourse to defend the company in these cases and as the ultimate outcome is not known no provision has been made for any damage/claim over and above the dues appreing in the books of account," DCHL said in the filing.
DCHL which is engaged in printing and publishing of 'Deccan Chronicle', 'Financial Chronicle', 'Andhra Bhoomi' and 'Asian Age' newspapers is facing rough weather after some lenders of the city-based company filed complaints in various courts and forums for alleged default of payments.
The networth of the company has completely eroded and has turned as per the audited financial statements for the period ended June 30, 2013 due to which the company has become a sick industrial company, DCHL further said.