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Shine.com Reports Loss Of Rs 31.2 Cr In FY13

Media company HT Media has reported digital revenues of Rs 19.24 crore for the quarter ended March 31, 2012. The loss before tax was at Rs 30.51 crore for the quarter. For the year ended March 31, 2012, the company saw digital revenues of Rs 31.19 crore and a loss before tax of Rs 30.29 crore. HT Media informed that the digital revenues for the quarter and the year ended March 31, 2012, includes the revenues of its job portal Shine.com, which has become a part of the company, following a restructuring arrangement approved by the Delhi High Court. Hence, the digital revenues and results are not comparable with digital revenues of previous quarters and year. In the previous quarter, HT Media had reported Rs 13.79 crore digital revenues and loss before tax of Rs 8.86 crore. The company's result presentation however suggests that the digital segment saw a 23% year-on-year growth in revenues to Rs 53.8 crore in fiscal FY13, from Rs 43.6 crore in FY12. It also claims that Shine.com has registered a 50% revenue growth in FY13 over FY12, while HTCampus.com saw a 65% revenue growth in FY13 over FY12 and HT Mobile saw a 17% revenue growth in FY13 over FY12. Although, there is no word on the exact revenue generated. Shine.com Demerger: HT Media also informed that Delhi High court has approved a scheme of arrangement and restructuring between the company and its Internet subsidiary Firefly E-ventures Ltd on April 18, 2013 and the scheme has become effective from May 6, 2013. This scheme was approved…

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