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Gadgets 360 reported a GMV of Rs 27 crore in Q4 FY16

 

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NDTV’s Gadgets360 reported a gross merchandise value (GMV) of Rs 27 crore in the quarter ended March 31, 2016 (Q4 FY16). Gross Merchandise value refers to the value of goods which have been sold through the website, though this is not indicative of what Gadgets360 has earned from the sale: the net revenue has not been disclosed by NDTV. In the preceding quarter, Gadgets360 clocked product sales of Rs 21.7 crore for a two month period till January 2016, and also shipped 20,000 devices in the period. The number of devices shipped in the last quarter has not been disclosed.

Gadgets360 is part of NDTV’s ecommerce segment which includes IndianRoots.in (which sells Indian ethnic wear), CarAndBike, BandBaajaa (wedding planning site) and Mojarto (a marketplace for artisans). NDTV has stopped disclosing GMV for IndianRoots. In Q1-FY16, three quarters ago, it had reported a GMV of Rs 21.7 crore for IndianRoots.

That said, revenues for the segment have declined and the losses have widened in the last one year. It’s worth noting that during this period, the Ecommerce segment has added new businesses, including CarAndBike, BandBaajaa and Mojarto. Prior to this, the ecommerce business was primarily IndianRoots. In that sense, the quarterly results aren’t comparable, but with the addition of new businesses, a decline in revenue is odd.

ndtv-ecommerce-q4-fy16

NDTV’s ecommerce business reported revenues of Rs 2.57 crore for the quarter ended 31st March 2016. The business’ revenues fell from Rs 3.85 crore in the preceding quarter and also declined over 66% from Rs 6.8 crore in the same quarter last year.

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Losses in the segment widened to Rs 10.3 crore from Rs 6.5 crore in the preceding quarter, according to the financials. Losses also stood at Rs 9.9 crore in the same quarter last year.

Business highlights

– BandBaajaa, which began its operations in March, has partnered with 2,100 vendors in 15 cities. Bandbaajaa currently lists various wedding services on the platform, from venues, photographers, DJs and entertainment services, choreographers, bands and dhols, wedding decor, invitations, makeup artists etc.

– CarandBike has partnered with eight manufacturers for the direct sale of cars and bikes. The website also has a used car section and has allied services for loans and insurance.

– In August 2015, Gadgets 360, raised an undisclosed amount of funding from mobile commerce and payments venture Paytm, Inflexionpoint and others. Gadgets 360 claims to have a valuation of $50 million.

Disclosure: There may be areas of overlap in the coverage of Gadgets360 and MediaNama

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