NDTV’s e-commerce business (Indianroots.com) has reported revenues of Rs 52 lakh in its first operational quarter ended September 30, 2013 (Q2-FY14).
The segment has reported loss before tax of Rs 3.37 crore for the quarter, up from Rs 1.33 crore loss in the previous quarter. Note that these are however still very early days for NDTV’s e-commerce business, having launched in July this year.
Indianroots.com currently focuses on Indian ethnic wear and claims to offer 16,000 products from over 112 ethnic brands and 30 designers including Sabyasachi Mukherjee, Raw Mango, Neeta Lulla, Anita Dongre, Meera-Muzaffar Ali and others.
Products offered include women’s apparel like sarees, lehengas, salwar kameez, kurtis and others and men’s apparel like sherwanis, kurta pyjamas, jackets and others. It also offers accessories like jewelry, bags, wraps and others along with home furnishing and stationery products. The site is targeting the Indian diaspora and offers shipping globally (More on that here).
During the quarter, NDTV also sold 13,769 shares in NDTV Ethnic Retail Ltd (the company which operates Indianroots.com) to Rathi Strategic Ventures for Rs 10 crore. Earlier in March, NDTV subsidiaries NDTV Worldwide and NDTV Convergence had picked up 37.55% stake and 33.2% stake respectively in NDTV Ethnic Retail for a total consideration of Rs 4.2 lakhs. The company had also roped in Fashion And You co-founder Rahul Narvekar to head its e-commerce operations in February 2013.
NDTV has posted total operational revenue of Rs 106.2 crore for the quarter, marginally up from Rs 103.3 crore in the same quarter last year. The net loss also increased to Rs 15.26 crore for the quarter, up from Rs 14.68 loss in the same quarter last year.
The company says its consolidated income increased by 19% year-on-year (YoY) to Rs 128 crore for the quarter, up from Rs 108 crore in the same quarter last year. The operating profit (EBITDA) was at Rs 1.5 crore for the quarter as compared to Rs 19 crore loss in the corresponding quarter last year.
It also mentioned that NDTV Convergence (NDTV’s digital arm) saw a 64% revenue growth YoY and generated 5 billion pageviews across mobile and web on an annual basis and 2 billion minutes of streamed videos.
Download – Financials