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 -- …
- India’s Health Stack: Plans for “Single Source Of Truth” January 30, 2023
- Twitter plans to limit permanent account suspensions on its platform January 30, 2023
- What’s the deal with Andhra Pradesh’s new family doctor system? January 30, 2023
- Supriya Shekher on Rethinking Privacy Mandates In Antitrust Law | Meta India Tech Scholars 2021-22 January 30, 2023
- Private Explosives Manufacturer Hired By Defence Ministry Hit By Suspected Ransomware Attack January 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...