We should have spotted this earlier: India Webportal Private Ltd, which owns and operates websites like India.com, BGR India, Cricket Country, among others, has reported revenues of Rs 15.4 crore for the financial year ended 31st March 2013 (FY13), according to the annual report filed by Zee Entertainment Enterprises Ltd (ZEEL). India Webportal Private Ltd is a subsidiary of ZEEL, which owns 51% in the venture. The remaining 49% is owned by Mail.com Media Corporation (MMC).
Revenues for India Webportal grew year on year by almost 7 times, from Rs 2.3 crore for the financial year ended 31st March 2012 (FY12). Losses declined 33.33% to Rs 13.6 crore in FY13, as compared with Rs 20.4 crore in FY12. In the annual report, ZEEL states that it invested an additional Rs 9.2 crore in India Webportal “to obtain business benefits, partially offset by provision for diminution in value of investment of associate aggregating to” Rs 2 crore. Details of its revenues and losses were not available in the FY11 annual report.
Arvindra Kanwal, the CEO of India Webportal, had left the company earlier this year. Harini Calamur has been heading digital content strategies for the Zee Group, since June 2013, across web properties.
The joint venture between MMC and ZEEL had been inked in February 2010, while India Webportal had commenced operations in 2011. Apart from the generic horizontal portal India.com, it also runs a cars site OnCars.in, Cricket site Cricket Country, mobile gadget news site BGR India, education information site Indiancolleges.com, career counseling site Careerfundas.com, celebrity portal BollywoodLife.com, and an opinion site Voice of India. India.com also has verticals like mobile price comparison site Gadgets.India.com, video, Health and Travel, apart from hosting websites for two Zee group channels – ZeeNews.com and ZeeBiz.com.
The Zee group also owns the video app Ditto.tv, which powers on-demand video for the groups DTH business.
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