Following the restructuring of Network18′s companies, it has reported results for Web18, HomeShop18 and Newswire18, under the Digital Content and eCommerce business segment, not indicating the profitability of individual businesses. We now know less about these businesses that we did last quarter.
The segment has reported an operating loss of Rs 25 crore for the quarter ended 30th June 2011, on operating revenues of Rs 52 crore: a growth of 23% over the corresponding quarter last year, wherein revenues were at Rs 42 crore. Operating margin remained negative at -48% compared to last year’s corresponding quarter’s margins of -21%. Expenses were at Rs 76 crore, compared to Rs 51 crore, spent in Q1FY11.
– According to a statement from the company Web18 which consists of Moneycontrol.com and In.com, reported revenues of Rs 24 crore, an increase of 31% over the corresponding quarter last year. Moneycontrol launched live BSE feeds and announcements, in addition to the existing NSE feeds and announcements. Network18 has not reported operating expenses and profit for Web18, separately.
– An online and multi-platform reality show MTV Crunch was launched on in.com.
– Online news and views website Firstpost.com was launched. The company has not provided any information on the performance of the site.
– HomeShop18 recorded revenues of Rs. 17 crores for the quarter, a growth of 13% over the corresponding quarter last year on a proforma basis.
– Orders executed during the quarter grew by over 28% over the last quarter.
– Homeshop18 launched a new user interface and recommendation engine and introduced many personalization features.
– It also became available on Videocon d2h and Sun Direct DTH platforms.
Following the end of the April-June 2011 quarter, HomeShop18 acquired online books retailer CoinJoos, in order to expand its book catalogue and inventory.
Bookmyshow.com continued on a strong revenue growth trajectory. The site had to had to halt ticket sales in Andhra Pradesh following the state government’s order, although the High Court had put a stay on it.
Newswire18 has reported revenues of Rs. 11 crores for the quarter.