wordpress blog stats
Connect with us

Hi, what are you looking for?

Network18 Reports Rs 32.2 Crore Loss In Digital & E-Commerce For Q1-FY13

The combined digital and e-commerce operations of Network18 stood at Rs 72.8 crore for the quarter ending June 30, 2012, up 7.7% from Rs 67.6 crores in the previous quarter and up 41% from Rs 51.7 crore in the corresponding quarter last year. Operating loss for the segment, which includes Web18, Homeshop18 and NewsWire18, increased to Rs 32.2 crore from Rs 31.2 crore loss in the previous quarter and Rs 25.4 crore loss in the corresponding quarter last year. The operating margin remained negative at -44% as compared to -46% in the previous quarter and -49% in the corresponding quarter last year.

Digital Content Revenues

Network18’s digital content division reported revenues of Rs 16.7 crores during the quarter, marginally up from Rs 15.9 crores in the same quarter last year. The company said that Moneycontrol.com crossed 8 million monthly unique visitors in May, up from 7.8 million uniques in March, but doesn’t cite a source.

– There is no information about the performance of In.com except that a brand new In.com was launched during the quarter and according to a company statement, it is now focused on becoming India’s leading entertainment destination for youth. The company also launched IBNLive’s iPhone app during the quarter.

– Network18 has not provided any information on the performance of Firstpost, except for the fact that it celebrated its first anniversary.

Advertisement. Scroll to continue reading.

Digital Commerce Revenues

Network18’s digital commerce division reported revenues of Rs 44.6 crore during the quarter, up 79.8% from Rs 24.8 crore in the corresponding quarter last year. Although it’s not clear if this is the combined revenue of HomeShop18 and BookMyShow, since there is no break up for HomeShop18 revenue unlike previous quarters.

HomeShop18

According to a company statement, the revenues of HomeShop18 grew by 85% over the corresponding quarter last year and the orders executed during the year grew by over 80% year-on-year, although Network18 hasn’t disclosed the company’s revenues for this quarter, as stated earlier. The company also added that HomeShop18 forayed into mobile commerce during the quarter.

BookMyShow

Network18 said that BookyMyShow had a spectacular quarter partly driven by the increased IPL sales but there is no specific information on the revenues or the performance.

Advertisement. Scroll to continue reading.

Newswire 18

Newswire18 has reported revenues of Rs. 11.5 crores for the quarter, marginally up from Rs 11 crore in the same quarter previous year.

Download: Results (pdf)

Written By

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

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ