wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Web18 Expects To Turn EBITDA Profit In Q4; Losses Up 18%

Nikhil adds: Network18 Managing Director Raghav Bahl said in an interview with group channel CNBC-TV18 that he expects Web18 to turn an EBITDA profit in the current quarter. Maybe a redesign a quarter for In.com does bring in the revenues… That said, Web18s operating loss has been regularly declining, at times on account of reduction in operating costs, at times due to increase in revenues.

Earlier: Web18, the Internet and mobile arm of Network18 group, has posted losses of Rs. 118.1 million, up 18% sequentially and down 44.3% year on year in the quarter ended December 2009. Revenues have risen 12.6% to Rs. 196.93 million from Rs. 174.96 million even as expenses have reduced 35.6% to Rs. 224.9 million, compared to the quarter ended December 2008. EBITDA losses have reduced to Rs. 28 million compared to the Rs. 174 million in December 2008. As MediaNama had reported first earlier this month, Lakshmi Narasimhan has taken over as CEO of Web18.

Web18 runs Network18’s portals including In.com, Moneycontrol.com, Ibnlive.com, Cricketnext.com, Tech2.com, Compareindia.com, Yatra.com, Bookmyshow.com, 51818 Mobile, Jobstreet.com, Poweryourtrade.com, Commoditiescontrol.com and Indiaearnings.com.

Details: Release | Financials

Key Developments During The Quarter

— Web18 outsourced their e-commerce business shop.in.com to Network18 group company Homeshop18

— In.com underwent a redesign in December with a new interface and additions to the content. It added a new music player in its “Listen” section, a careers sub-section within “Read”, added options to the “Download” section.

— In.com will shortly be launching enhancements within its “Mail” service as well as provide messenger services to users.

— It launched Moneycontrol Newscenter to aggregate premium content from the site’s partners such as Forbes India, Overdrive, Chip, Entrepreneur and Network18 company Newswire18.

– Moneycontrol launched the beta version of its premium personal financial tool called Money Manager in association with Intuit Alliance.

— IBNLive.com launched special profile pages and a corporate section.

In.com Catching Up With Indiatimes?

The company claims its In.com portal is catching up to Times Internet (Indiatimes) in terms of unique visitors to the website, quoting Comscore data in October-November 2009. But we don’t know how reliable this information is: MediaNama doesn’t endorse Comscore, since they haven’t disclosed their methodology for India. Interestingly, Web18 has not published the other Comscore graph with traffic details which it did last quarter, when it claimed to be the #2 in India.

Related

Lakshmi Narasimhan Is Web18’s New CEO

E-Commerce Restructuring At Web18; Some Execs Asked To Leave

Network18 To Cut Operational Costs By 20%

FY09: TV18 Posts Losses Of Rs. 1.6B; Revenue Up 23%; Key Developments

You May Also Like

News

Kotak Mahindra Bank reported a net profit of ₹1,853.5 crore for the third quarter of the current financial, up by 16% year-on-year from ₹1,944...

News

Yes Bank Ltd posted a net profit of ₹151 crore during the third quarter of the current financial year compared to a net loss...

News

Key takeaways Network18’s digital news revenue increased by 50% YoY for the second consecutive quarter Consolidated Net Profits grew 125% YoY Network18 Digital saw...

News

Netflix’s two day StreamFest in December 2020—where users in India could practically watch Netflix’s entire catalogue for free—brought millions of users to the service,...

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

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ