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BookMyShow Reports Rs 3.23 Cr Profit In FY13; Rs 52.62 Cr Revenues

bookmyshow

Network18 subsidiary Bigtree Entertainment which operates the movie and event ticketing website BookMyShow, has reported revenues of Rs 52.62 crore for the year ended March 31, 2013 (FY13), up 78.55% from Rs 29.47 crore revenues in FY12. The company also saw a growth in its profits – posting a profit of Rs 3.23 crore for FY13, up 122.76% from Rs 1.45 crore profit in FY12.

User Metrics: According to Network18, BookMyShow had around 5 million registered users and was clocking 5 million monthly uniques as of December 31, 2012, citing Google Analytics number. The company apparently clocked 7.7 million total visits, up 40% from 5.5 million visits in December 2011, as per comScore metrics.

BookMyShow claims to have sold an average of over 2 million tickets (2,000,000 tickets) per month in the nine months ended December 31, 2012. It also mentioned that BookMyShow is the authorized distributor for ticket management software developed by the New Zealand based firm Vista Entertainment. The company claims to currently offer tickets for 1400 screens across 105 cities in India.

Network18’s stake: Network18 currently holds 39.75% stake in Big Tree Entertainment. It holds 12.1% stake through direct shareholding and 27.65% stake through the Cyprus-based E-18 Limited. The company has invested Rs 4.98 crore in Big Tree for acquiring 2,581 equity shares of Rs 10 each for the financial year ended March 31, 2013.

Network18 previously held 60% stake in the company and had diluted its stake by 20.25% when BookMyShow had raised Rs 100 crore from Accel Partners in August 2012. Network18 is however still the single largest shareholder in the company.

BookMyShow Developments In The Previous Year

– In May 2013, BookMyShow had added support for Apple’s Passbook feature in its iOS app.

– In March 2013, BookMyShow had acquired the Chennai-based ticketing portal Ticketgreen for an undisclosed amount. The company had informed that this acquisition will provide them with access to over 100 regional cinemas in South India.

– In August 2012, BookMyShow had raised Rs 100 crore from Accel Partners in August 2012. The company had informed that the raised capital will be used to expand into tier-II and III cities and for increasing its non-movie ticketing business.

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