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.
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.