Web18, the Internet and (somewhat) mobile subsidiary of the Network18 group, has reported operating losses of approximately Rs. 1 crore for the quarter ended September 30th 2010, down significantly from the Rs. 5 crore loss it had reported for the same quarter last year. Sequentially too, operating losses were around 1/3rd, from Rs. 3 crore reported at the end of Q1-11, and operating revenues were up 5.56% in comparison. Since the beginning of this fiscal, Web18 has stopped publishing detailed financial information, and the Profit After Tax has not been disclosed.
According to TV18, its subsidiary company Big Tree Entertainment, which owns the portal BookMyShow.com, also reported a 100% increase in revenues for the first half of the year (we’re assuming, in comparison with the same period the previous fiscal). For the previous fiscal, BookMyshow had reported revenues of Rs. 12 crore, and a loss of Rs. 1.5 crore.
TV18 has also said that companies invested in by Capital18 (which includes Networkplay and Tangerine Digital), excluding DEN Networks, reported consolidated revenues of Rs. 25 crore for the quarter.
Web18 said IBNLive.com, the news portal complementing its TV channel CNN-IBN, crossed 1 million unique users during September. The company has claimed that a new look moneycontrol.com, including WAP site, has seen a sharp uptake in subscriber base, and there was “large scale content and product expansion in In.com, new social media apps, widgets, twitter pages etc.”
Surprisingly, unlike previous quarters, there are no significant Comscore claims in the report. What gives? Do read our comments on In.com’s traffic tactics.