HomeShop18 powers revenue growth of Network18 Media & Investment's 'digital content and ecommerce' business unit in the fourth quarter of 2011-12 even as the new media business continues to be awashed in the red. The company's digital content and ecommerce business reported 38.2 per cent rise in revenues to Rs 67.6 crore for the quarter ended March 31, 2012 over the year ago period and 16 per cent sequential increase (over Q3 FY'12).
But operating losses in the business at Rs 31.2 crore during Q4 FY'12 was marginally down from Rs 32.2 crore in the quarter ended December 31, 2011 even as it ballooned 81 per cent over Q4 FY'11.
The company's digital content and ecommerce business consists of various properties like Web18, HomeShop18 and Newswire18. Web18 business comprise Moneycontrol.com, Ibnlive.in.com and BookMyShow.com, while HomeShop18 houses its television and ecommerce business of the firm.
HomeShop18 registered 134 per cent rise in revenue to Rs 30 crore during Q4 FY12 over the year ago period while sequentially revenue rose around 41 per cent compared to Q3 FY'12.
For the full year ended March 31 2012 HomeShop18 recorded revenues of Rs 89.2 crore compared to Rs 71 crore in the previous year. HomeShop18's executed orders grew by over 126 per cent last year, according to the company. Besides entering adding books to its product categories, the company also enhanced its distribution reach across DTH platforms including Videocon d2h.
Web18 revenue during Q4 just inched up to Rs 25.9 crore from Rs 25.8 crore in the same quarter the previous year while sequentially revenue was down from Rs 26.3 crore. For the full year, revenues for Web18 grew 18.6 per cent to Rs 100.7 crore. According to the company, Moneycontrol.com had more than 7.8 million unique visitors in March 2012 while Bookmyshow.com is now a profitable operation.
Newswire 18 delivered a marginal increase in sequential and year-on-year increase in revenue to Rs 11.6 crore. For the full year, the business saw revenue rise 13.4 per cent.
The breakdown of profit or loss of the three businesses housed under digital content and ecommerce unit of Network18 is not currently available. It would be disclosed in the annual report due in a few months.
Network18 as a company:
Network18 Media & Investment's consolidated revenue for the fourth quarter stood at Rs 659.5 crore, up 63 per cent over Q4 FY'11 and an increase of 31 per cent over Q3 FY'12. However, the company slipped into bigger loss in the same period. Consolidated net loss for Q4 jumped almost fourfold over the year ago period and almost 100 per cent compared to the quarter ended December 31, 2011.
Network 18's television business which comprises various channels like Colors, IBN7, CNN-IBN contributed a revenue of Rs 348.7 crore and an operating profit of Rs 8.2 crore from continuing operations (excluding discontinued operations and new launches).