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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.

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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.

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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)

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