Daar Communications plc, owners of AIT and Raypower said in its financial reports for the second quarter that its losses rose by 31% to NGN533.4 million compared to NGN406.0 million reported same period in the financial year 2016.
According to the balance sheet, the communication company ended the quarter with NGN883.7 million revenue in contrast to NGN1.3 billion it posted in the year before. It also recorded NGN142.4 million gross loss for q2 2017 against NGN51.6 million gross profit recorded in the year before.
Daar Communications plc recorded NGN9.9 billion net assets in the year in review in contrast to NGN11.2 billion in the year before.
Daar Communication is an integrated media company with a portfolio of TV, radio stations and investment in broadcast equipment and coverage.