Homeshop18 (TV18 Homeshopping Network) reported over 22 lakh transactions for the quarter ended September 30 (Q2 FY17), up 17% year-on-year (YoY) and 13% sequentially, Network18's press release said. It reported a cumulative customer base of 19.9 million in the quarter compared to 15.8 million in the same quarter last year and 18.9 million in the preceding quarter. Network18 mentioned in its comments that Homeshop18 continues to face regulatory and business challenges. It added that it has seen costs of fulfilment and distribution increase in the quarter. The channel has now begun recovering shipping charges from customers, an initiative which was started in Q1 FY17. Recovery increased to 6.1% compared to 5.6% in the preceding quarter. Homeshop18 also added that it is now delivering to over 12,000 pin codes through its logistics partners. For FY 2015-16, Homeshop18 reported a turnover of Rs 387.72 crore and a loss before tax of Rs 84.3 crore. The company said it sees 31,500 transactions take place daily, of which 58% are from repeat customers, and its call centre receives about 1,40,000 calls daily. In the preceding year, it posted a loss of Rs 174.91 crore for the financial year ended March 2015, up significantly from Rs 83.9 crore from the previous financial year. Revenues stood at 443.87 crore in FY 2014-15. Network18 shareholding in the company stood at 53.71%. The remaining stake is held by SAIF II Mauritius Company Limited, G S Home Shopping Inc, Makira SP5 limited and Orchard Centar Master limited. IPO Withdrawn In November last year, Homeshop18 withdrew…
