wordpress blog stats
Connect with us

Hi, what are you looking for?

Q1-09 Results: Web18 Reports $1.8 Million Loss; Revenues At $3.1 Million

Download the financials here. We’ve included results from the previous quarter to enable a quarter-on-quarter comparison; they weren’t a part of the company release.

Web18, the Internet company from the Network18 group, has reported an operating loss of Rs. 5.59 Crores (around $1.8 million), more than twice the Rs. 2.36 Crore loss they had reported for the same quarter last year, but much less than the Rs. 13.5 Crore loss they reported last quarter. The company continues to be in investment mode, with operating expenses of Rs. 18.75 crores (around $4.1 Million), down from Rs. 31.5 crore expense last quarter. Remember, they bought the domain name In.com (a two letter domain name) in the last quarter.

Even revenues appear to be down quarter on quarter: at Rs. 13.15 crores (around $3.1 Million), down 27 percent from Rs. 18 crores last quarter. However, a year-on-year comparison might be more valid – in which case, revenues are up 41 percent from Rs. 9.34 crores in Q1 last fiscal.

So how can Network18 sustain this performance? As per the release, TV18 has around Rs. 700 crores ($165 million) cash on its balance sheet, and a war chest to fund growth in TV, Internet and Print.

Beyond the financials:
In.com went live last fiscal, and came out of private beta recently.
— Websites Moneycontrol.com , EasyMf.com, and Indiaearnings.com received a significant facelift, but the back-end remains the same – the old Moneycontrol.com infrastructure. There’s a legacy issue there.
— Moneycontrol claims over 1.2 million registered users, over 6.5 million Unique Users. They claim to have been visited by over 16 million unique users in the last six months, and that 11.5% users come back to moneycontrol 200 times in a month.
— PowerYourTrade.com has over 50,000 paid subscribers.
— Compareindia.com allows users to compare 32 categories of products

Advertisement. Scroll to continue reading.

A question: As per notes in the BSE filing, TV18 has investments of Rs 13.35 crores, Rs 5.94 crores and Rs 15.11 crores in Newswire18 India Ltd, iNews.com Ltd and Mobilenxt Teleservices Pvt Ltd respectively. These companies have incurred losses in the current year. Anything on with company iNews.com Ltd is? We’ve contacted Network18 for details.
iNews.com Ltd is an unlisted subsidiary of CNBC-TV18, in which CNBC Asia Pacific owns a 10 percent stake.

Note: I have an inconsequential number of shares of Network18 Fincap

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...


By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...


By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ