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Network18 Digital Commerce Revenue At Rs 85.9 Cr For Q1-FY14; Content At Rs 21.7 Cr

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Network18′s Digital Commerce revenues increased significantly to Rs 85.2 crore for the quarter ending June 30, 2013 (Q1-FY14), a 91% growth from Rs 44.6 crore revenues in the same quarter last year and up 4% from Rs 81.9 crore revenues in the previous quarter.

It’s not clear if this is the combined revenue of HomeShop18 and BookMyShow, since there is no break up for digital commerce revenues provided for the quarter. The company however notes that BookMyShow revenues grew 45% year on year, while HomeShop18 continues to scale across key operating parameters, reporting a 210% revenue growth year on year (YoY).

Earlier this month, BookMyShow had reported revenues of Rs 52.62 crore and a profit of Rs 3.23 crore for the year ended March 31, 2013 (FY13). On the other hand, HomeShop18 had reported total revenues of Rs 225.4 crore in FY13, up 89.4% YoY and had recorded increased losses of Rs 120 crore for FY13, a 11.8% increase YoY. However, Network18 hadn’t disclosed the split between HomeShop18′s TV and online business.

Digital Content Business

Network18’s Digital Content business recorded revenues of Rs 21.7 crore, registering a 30% growth from Rs 16.7 crore in Q1-FY13 but a 23.6% decline from Rs 28.4 crore revenues in Q4-FY13.

However, its worth noting that the ad revenues for Web18′s content properties are typically high in Q4, since the Union Budget is announced during this quarter, and MoneyControl.com, Web18′s financial portal and the main source of its online advertising revenues does particularly well in this quarter. Also note that this overall revenue figure includes revenues generated from its digital properties including moneycontrol.com, in.com, ibnlive.com and firstpost.com.

The combined digital commerce and commerce revenues was at Rs 106.9 crore for the quarter, registering a 174% growth year-on-year (adjusted for the sale of Newswire18 in December 2012).

Network18 Developments During the Quarter

– Last week, BookMyShow had finally inked a 5 year partnership with PVR Cinemas to offer ticketing from the multiplex chain. (Also read: What The PVR-BookMyShow Movie Ticketing Deal Means For Customers, PVR & Theaters). In May 2013, BookMyShow had also added support for Apple’s Passbook feature in its iOS app

– Last month, HomeShop18 had forayed into food and groceries segment, although it is focusing only on packaged non-perishable food products as of now. The company had also appointed former Airtel executive Vikrant Khanna as its Chief Marketing Officer.

– Network18 had launched an integrated business newsroom and had appointed Senthil Chengalvarayan as the Editor-In-Chief of the new business newsroom which comprised of Network18’s broadcast and digital news outlets in the business media space such as CNBC-TV18, CNBC Awaaz, CNBC-TV18 Prime HD and MoneyControl.com.

– In May 2013, Network18′s online news portal FirstPost.com had acquired FakingNews.com, among India’s first satire portals, for an undisclosed amount. Durga Raghunath was also appointed as the CEO of FirstPost.com.

– Network18′s venture capital arm Capital18 had divested its entire stake in the digital advertising agency and consulting firm WebChutney to Dentsu.

Download: Press Release | Financials


BookMyShow CEO Ashish Hemrajani On The PVR Deal, Mobile, Monopolies & more – Part 1
BookMyShow CEO Ashish Hemrajani On Ticket Pricing, Refunds, Competition, Offline Ticketing & More – Part 2
TV18 Net Profit At Rs 5.9 Cr For Q1-FY14; News Biz Down, Entertainment Biz Up

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