NDTV’s e-commerce business NDTV Ethnic Retail Limited (which operates IndianRoots.in) has reported revenues of Rs 6.80 crore for the quarter ended March 31, 2015, as compared to revenues of Rs 3.50 crore in the same quarter last year and Rs 6.06 crore revenues in the previous quarter. The segment has posted a loss before tax of Rs 9.99 crore for the quarter, significantly higher than the Rs 5.25 crore loss in the same quarter last year and the Rs 6.02 crore loss in the previous quarter.
The company has reported Gross Merchandise Value (GMV) of Rs 26 crore for the quarter, down marginally from Rs 29 crore GMV in the previous quarter. The company has also mentioned that Average Order Value for FY15 was Rs 17,000, as compared to Rs 9,000 in FY14.
NDTV had launched IndianRoots in July 2013 and it currently focuses on Indian ethnic wear, including women’s apparel such as sarees, lehengas, salwar kameez & kurtis and men’s apparel like sherwanis, kurta pyjamas & jackets. It also offers accessories like jewelry, bags, wraps and others along with home furnishing, stationery products and handicraft products from local artisans.
The company has tie-ups with close to 500 brands and designers, and it had also introduced custom tailoring for salwar kameez, sarees, trousseau collection for the bride and family, men’s kurta pajama, and sherwani among others. Users need to email a picture of the garment that they want to recreate and the Indianroots team will get in touch with them for measurements and preferences. NDTV Ethnic Retail had acquired 100% stake in JA Ethnic Retail Private Limited, in November 2013.
NDTV Convergence results: NDTV has mentioned that NDTV Convergence witnessed a 47% year-on-year revenue growth in FY15 to Rs 107 crore, but the company doesn’t seem to think the division is important enough to separate it out in its financials. It’s probably because web accounts for only a tiny part of NDTV’s revenues: it had accounted for only 7% of NDTV’s consolidated revenues in FY13 and the company hadn’t disclosed web’s revenues contribution in FY14. Also note that NDTV had earlier stated plans of merging NDTV Convergence Limited with NDTV Labs Limited to a new unnamed subsidiary, for which it had received board approval in Q3-FY14.
NDTV Convergence currently operates the company’s digital properties like NDTV.com, NDTV Gadgets, NDTV Auto and NDTV Cooks among others, along with NDTV’s mobile apps.