Revenues for Web18, the Internet and Mobile arm of Network18, grew 4.85 percent year-on-year and 12.65 percent sequentially for the quarter ended September 30th 2009. The growth in revenues, coupled with a 38.26 percent year on year reduction in operating expenses helped the company report a 72.93 percent reduction in operating loss. Sequentially, however, Web18s operating expenses rose Rs. 31.47 million (by 17.49%) to Rs. 211.45 million, hence a 35.61 percent sequential increase operating loss. During the Quarter, Web18 received an approval to raise $10 million in strategic investment from Nokia Growth Partners. Overall, the company claims to have cut down operating losses from Rs. 175-190 million per quarter last year, but keep in mind that last year, the company was in investment mode. Perhaps it still is - Operating Expenses were 1.32 times Revenues for July-September 2009, as compared to 1.266 times March-June 2009, but still an improvement over 2.24 times for the corresponding (July-September 2008) period last year. Sep-09 Details: Financial Release MoneyControl.com For the first time in recent memory, Web18 has shared data related to MoneyControl.com: -- MoneyControl claims a registered database of over 2 million members, which it claims is the highest in the country. Of these, around 1.2 million use its Portfolio services. Web18 has not shared its Active registered base, which is far more relevant a metric than 'registered users'. -- It claims that it gets 2.25 million visits every month (according to Google Analytics data), which is ahead of Rediff Finance and Yahoo Finance -- …
