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Q1-09 Results: Bharatstudent.com Parent Reports Rs. 22.43 Crores Profit; Globe7 – Baidu; VoIP Over WiFi In HK

Bharatstudent.com‘s parent company Northgate Technologies, which also owns Online Advertising network Axill and VoIP and IPTV solutions provider Globe7 has reported a consolidated profit Rs. 22.43 crores. Note that Northgate itself contributed very little to the profits – only Rs. 6 crores, down from Rs. 20.19 crores. The groups consolidated revenues were up at Rs. 173.50 crores. A majority of the groups business revolves around Online Advertising, and there’s been a “Traffic Acquisition Cost” of Rs. 107.05 crores.

Download the results here.

It appears that there has been a change in accounting policy, so the results for this quarter are not comparable with the previous quarter, or the last fiscal. At the same time, it’s interesting to note that the parent company Northgate Technologies itself has just a minority contribution to the revenues, while subsidiaries account for a bulk of the revenues. In fact, Northgate’s “Other Income” of Rs 541.64 lakhs, is higher than its revenues.

The consolidated results include digital subsidiaries of Northgate – Social Media India Ltd, which runs Bharatstudent.com, Northgate Investments Pte Ltd and its subsidiaries Globe7 Pte Ltd, Globe7 Inc, Axill Europe Ltd and Globe7 HK Ltd. During the quarter:

Globe7 (VoIP + IPTV patented software): formed partnership with Chinese companies Baidu, Alimama and Allyes; selected to provide ‘globe7@mobile’ service at wifi hotspots in Hong Kong
Bharatstudent: Claims to be among the Top 16 websites in India and Top 475 globally, based on Alexa. (Ed: Alexa isn’t an accurate measure of traffic and performance, and we suggest that our readers exercise caution before using it to evaluate a websites performance)

Not many numbers in the release, but some notes from the companys annual report, released last quarter:
Bharatstudent: Claims 1.5 million registered users, adding 12000 to 15000 members a day
Globe7 – over 25 million downloads, 3.5 million active users from 187 countries. Content partners include AP, ANI, Reuters, Media Corp, FTV, Travel Channel, Extreme Sports etc.
Axill – is an advertising network, with a presence in US, UK, India and China. Has inventory across 3800 publishers, and also has video ads.

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