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NDTV’s digital biz still accounts for 20% of total revenues in Q3 FY16

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NDTV’s ecommerce business has reported revenues of Rs 4 crore for the quarter ended December 31,2015 (Q3 FY16). The segment had posted revenues of Rs 6 crore in the same period last year, showing a degrowth of 33.33% year-on-year. On a sequential basis, ecommerce revenues were flat from Rs 4 crore.

The ecommerce segment reported a loss of Rs 10 crore in the quarter against a loss of Rs 7 crore in the same period last year. Losses for the segment stood at Rs 13 crore in the preceding quarter.

NDTV’s ecommerce division includes IndianRoots.in, which sells Indian ethnic wear, and Gadgets360.com, an electronics e-store.

NDTV added that Gadgets360 clocked product sales of Rs 21 crore till January 2016 within two months of its launch. Gadgets360 also shipped 20,000 devices in the period.  The division earlier in August 2015 raised an undisclosed round of funding from Paytm, Inflexionpoint and other investors with a valuation of $80 million for its gadgets and auto ecommerce play.

Digital business

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NDTV’s digital business reported revenues of Rs 30 crore for the quarter. The segment reported revenues of Rs 30 crore in the same period last year. In the preceding quarter, the digital business reported revenues of Rs 26 crore a growth of 15.38%.

The digital business reported a profit of Rs 1 crore in Q2FY15 and reported no profit or loss in the current quarter, i.e. net profit stood at Rs 0. NDTV digital business accounts for 20% of total revenues in Q3FY16.

NDTV also raised funding for two of its new startups Smartcooky (an online marketplace for health foods) and Band BandBaajaa (an online wedding and festival planning market). The two startups have a combined valuation of Rs 724 crore.

BandBaajaa’s funding was led by US venture capital firm CerraCap Ventures at a valuation of USD 20 million. Smartcooky raised funding from  Vandana Luthra, founder, VLCC,  Rajan Anandan, vice president & MD of Google, South East Asia & India and other investors. The startup has a valuation of $12 million.

Financials

– The company reported net loss of Rs 13 crore. Operating revenues for Q3 FY16 were pegged at Rs 150 crore, as opposed to the Rs 153 crore in the corresponding quarter last fiscal.

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– The TV business reported revenues of Rs 130 crore, down 3.27% from Rs 134.4 crore in the same quarter last year.

Download: Press release | Financials 

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