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Web18 Reports FY10 Revenues Of Rs. 72.82 Cr, Operating Loss Of Rs. 9.27 Cr

Web18, the Internet and Mobile business from the Network18 group has reported revenues of Rs. 72.82 crore for the financial year ending March 31st 2010 (FY10), up 11.28% from Rs. 65.44 crore reported for (FY09), and an operating loss of Rs. 9.27 crore, down 74% from Rs. 35.75 crore reported last fiscal. Year on year, the company has reported an increase in operating revenues, and a decline in operating expenses. Former Web18 CEO Surya Mantha recently left the Network18 Group to join Omidyar Networks; Lakshmi Narasimhan has taken over from him. As Network18 MD Raghav Bahl had indicated at the end of last quarter, the company has turned in an operating profit of Rs. 2.45 Crore, down 59.26% from Rs. 5.32 crore reported for Q4 last fiscal, when the company did not report Q4 results. For Q4, Web18 reported revenues…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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

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