Startups

Network18's digital content & e-com revenue for Q2 FY13 up 72% at Rs 98.2Cr

1 Nov, 2012

Network18 Media & Investment's digital content and e-commerce business reported revenue of Rs 98.2 crore for the second quarter ended September 30, 2012, up 72 per cent from the year-ago period and recording a growth of 34.8 per cent sequentially, compared to Rs 72.8 crore clocked during Q1 FY13.

The company's digital content and e-commerce business consists of various properties like Web18, HomeShop18 and Newswire18. The Web18 business comprises Moneycontrol.com and BookMyShow.com, with HomeShop18 housing the TV shopping and e-commerce business of the firm.

However, losses for the digital content and e-commerce segment rose to Rs 37.7 crore from Rs 33.2 crore in the previous quarter ended June 30 and Rs 32.2 crore for the second quarter of the last financial year.

The revenue growth was powered by the digital commerce segment, which more than doubled to Rs 65.3 crore, compared to Rs 28.6 crore in the year-ago period and Rs 44.6 crore in the first quarter ended in June.

The digital content business saw revenue rising around 25 per cent sequentially to Rs 20.4 crore while it rose around 17 per cent year-on-year from Rs 17.2 crore during Q2 FY12. Newswire18 saw single-digit growth in revenue, both sequentially and over the same period last year, to Rs 12.4 crore.

The company did not share specific numbers on them but said that HomeShop18 revenues grew at over 250 per cent over the corresponding quarter last year and Bookmyshow.com had another high growth quarter, growing by 45 per cent year-on-year in terms of revenues.

Network18 Media & Investment's consolidated revenue for the quarter stood at Rs 534 crore, growing 22.6 per cent sequentially and reporting 36.8 per cent growth over the year-ago period.

(Edited by Sanghamitra Mandal)

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