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IMCL Plans English News & Edu Portals; FY10 Revenue Up 66%, Loss Up 9%

imcllogo1i-Media Corporation Limited (IMCL), the digital subsidiary of BSE listed Dainik Bhaskar will launch two new websites by the end of this month – an English language news portal and an education related website, reports afaqs. IMCL operates bhaskar.com (Hindi), divyabhaskar.co.in (Gujarati), myfmindia.com (Radio channel website), and among the more famous Indian portals from the dot-com-bust, indiainfo.com.

Now, what’s particularly interesting is that IMCL is looking to take a segmented approach to its content – focusing on state level segmentation of news. That’s something that consumers will like, particularly those following the news from outside the state or country, but the real question is whether advertisers will bite or not.

Education appears to be the next big hype as well, and people seem to have forgotten that the StudyPlaces sale was a loss for its investors (KPCB, Sherpalo & Info Edge). HT Media has recently launched HT Campus, and Dainik Jagran’s portals business MMI Online is planning an education portal as well.

IMCL EPS At Rs. -54.93

The Afaqs report suggested that both the portals will be monetized with advertising. However, financially, I Media Corp appears to be struggling: the company reported a Rs. 21.82 million in revenues for the year (up 66% from FY09, but lower than its FY08 revenues), and losses continued to grow at Rs. 57.68 million. This is despite the assertion that the company also generates revenue from portal management fees from its parent company other companies for “managing various group portals including Dainikbhaskar.com, Divyabhaskar.com etc.”

DB Corp invested Rs. 5,775,000 in IMCL during the year, and gave loans / advances amounting to Rs. 200,728,008 to the company. IMCL has accumulated losses of Rs. 180,918,078. DB Corp Ltd owns 55% in I Media Corp.

Related:

Dainik Bhaskar IPO Filing: Digital Kiosks; IndiaInfo.com; I Media Corp

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