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Network18’s web portals get 21million unique visitors in Q2; loss at Rs 27.43 cr

Network18

RIL-owned Network18 has reported a loss of Rs 27.43 crore for the quarter ended September 30, 2015, as opposed to a net loss of Rs 36.47  in the same quarter last year. In the preceding quarter losses stood at Rs 1.15 crore. The company said that profitability was significantly influenced by advertisement income on account of the General Elections and the Union Budget in the same quarter last year.

Operating revenue on a consolidated basis stood at Rs 801.1 crore in Q2 FY16, up 8% YoY from Rs 744.8 crore in Q2 FY15. In the preceding quarter, operating revenues stood at Rs 79.36 crore.

The company mentioned the results were not comparable to the same quarter last year as it sold entire stake in Stargaze Entertainment for Rs 43.29 crore.

Note that Network18 stopped releasing financial information related to its digital content and commerce business, after the takeover by Reliance Industries. So, we’re not sure how its digital content business is performing. The company currently only reports segment-wise  financial information for its Media Operations and its Film Production and Distribution businesses.

Segment-wise performance

Network18’s media operations generated Rs 758.51 crore revenues, up 4.63% from Rs 724.98 crore in the same quarter last year. The company had reported media operations revenues of Rs 718.79 crore in the preceding quarter. Media operations accounted for 94.68% of Network18’s total revenues, as opposed to 85.3% in the previous quarter. Film production and distribution business generated Rs 42.62 crore, as opposed to Rs 19.85 crore in the same quarter last year and Rs 52.6 crore in the previous quarter.

Operational details

– In September, Network18 Group CEO AP Parigi moved to an advisory role in the group. Parigi moved to the advisory role on 1st October 2015.

– In October, the company got shareholder approval to raise Rs 1,000 crore. Network18 said that it would raise the funds via issuance of non-convertible debentures (NCDs), foreign currency convertible bonds and/or bond with share warrants in one or more tranches.

– Network18 attracted over 21 million unique visitors per month in Q2 FY16. Moneycontrol.com had 278 million average monthly page views and over 4.2 million average unique visitors per month. IBNLive registered close to 5 million average unique visitors per month with 48 million average monthly page views, while Firstpost got close to 5 million average unique visitors per month and over 32 million average monthly page views.

– Bookmyshow had over 82 million visits on average per month in Q2 FY16, an increase of 17% compared to the previous quarter. The average page views grew to 2 billion per month for the quarter. BookMyShow successfully launched its own wallet and activated 1.5 lakh wallets on the first day.

Download: Financials and press release

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