Following the restructuring of Network18′s companies, it has again reported results for Web18, HomeShop18 and Newswire18, under the Digital Content and eCommerce business segment, not indicating the profitability of individual businesses.
The segment has reported an operating loss of Rs 25 crore for the quarter ended 30th September 2011, on operating revenues of Rs 57 crore: a growth of 24% over the corresponding quarter last year, wherein revenues were at Rs 46 crore. Operating margin remained negative at -58% compared to last year’s corresponding quarter’s margins of -17%. The segment reported a loss of Rs 33.2 crore compared to a loss of Rs 8 crore during the same quarter, last year.
– According to a statement from the company Web18 which consists of Moneycontrol.com and In.com, reported revenues of Rs 24.8 crore, an increase of 24% over the corresponding quarter last year. Network18 has not reported operating expenses and profit for Web18, separately.
– The company has not provided any information on the performance of Firstpost but says that Moneycontrol.com exhibited strong growth momentum during the quarter.
– It had recently launched a dedicated section covering news from South India on the IBN Live website.
-In.com had launched Artiste Radio, a set of live internet radio stations dedicated to Indian artists.
– HomeShop18 recorded revenues of Rs. 21 crores for the quarter, a growth of 24% over the corresponding quarter last year on a proforma basis.
– Orders executed during the quarter grew by over 28% over the last quarter and 76% Year on Year.
Bookmyshow.com continued on a strong revenue growth trajectory and was the official ticketing partner for T20 Champions League and Indian F1 Grand Prix.
Newswire18 has reported revenues of Rs. 11.2 crore for the quarter.