wordpress blog stats
Connect with us

Hi, what are you looking for?

NDTV E-Commerce revenues at Rs 3.5 Cr for Q4-FY14; In talks to raise capital

Indianroots Logo

NDTV’s e-commerce business (Indianroots.in) has reported revenues of Rs 3.5 crore for the quarter ended March 31, 2014, up 40% from Rs 2.31 crore in the previous quarter and Rs 52 lakh in the quarter before.

The company hasn’t disclosed the profit or loss of the segment for the quarter. In the previous quarter, it had reported Rs 5.38 crore loss before tax. However, remember that these are still early days for the business, having launched in July last year. NDTV mentions that it has spent an incubation cost of Rs 25 crore on the venture and is currently in talks to raise capital through private placement.

The company board has also mandated NDTV management to explore increasing the stock value for the shareholder through various means including restructuring or private placement in the company’s digital arm NDTV Convergence and/or other subsidiaries.

NDTV had earlier stated plans of merging NDTV Labs Limited with NDTV Convergence Limited to a new unnamed subsidiary, for which it had received board approval in the previous quarter.

Financials

The company has reported a significant increase in its losses to Rs 31.39 crore for the quarter, up from Rs 10.43 crore loss in the previous quarter. It had posted Rs 27.81 crore profit in the same quarter last year.

The total operational revenue was at Rs 124.1 crore for the quarter, down from Rs 127.4 crore in the previous quarter and Rs 186.6 crore in the same quarter last year.  The company however mentions that the current quarter numbers include a one-time write-off of Rs 14 crore.

For the year ended March 31, 2014, NDTV reported operational revenues of Rs 460.1 crore and a net loss of Rs 81.2 crore. In comparison, it had posted revenues of Rs 526.8 crore and a net profit of Rs 1.9 crore in the previous year. The total consolidated revenue was at Rs 496 crore. The company informed that the significant incubation cost for NDTV’s e-commerce venture and NDTV Prime contributed to the annual losses.

It also mentioned this was an investment year for NDTV with an aim to turn around loss making verticals and incubate new growth businesses.

DownloadPress Release | Financials

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

The Federation of All India Vyapar Mandal (FAIVM), a pan-India body of traders and retailers, has recommended that the government impose a tax of...

News

The Department for Promotion of Industry and Internal Trade (DPIIT) has forwarded complaints against Amazon and Flipkart, made by traders body Confederation of All...

News

The Competition Commission of India has sought information from sellers body AIOVA on the alleged preferential treatment that Amazon gives to certain large sellers,...

News

E-commerce companies such as Amazon and Flipkart are proving to be a “major roadblock” in small traders adopting digital commerce, traders body Confederation of...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ