RIL owned Network18 has reported a net loss of Rs 12.15 crore for the quarter ended December 30, 2014 (Q3-FY15), up from Rs 11.72 crore loss in the same quarter last year but a significant improvement from Rs 36.47 crore loss in the previous quarter.
The company’s total operational revenue also increased to Rs 831.9 crore for the quarter, up 14.3% from Rs 727.6 crore in the same quarter last year and up 11.7% from Rs 744.8 crore in the previous quarter.
Network18 however notes that the consolidated results of the current quarter are not comparable to the corresponding quarter last year, since it includes results from Equator Trading Enterprises (and its subsidiaries Panorama Television & Prism TV) that became a wholly owned subsidiary of Network18 in January last year and Eenadu Television that became an associate company in the same month.
Digital Business
During the quarter, IBNLive also launched a sports property called ‘FootballNext‘. This is IBNLive’s second sports brand after CricketNext was merged into the site in February 2013. The company also merged back Firstbiz to the parent site Firstpost. More on that here.
That being said, we’re not sure on how Network18’s digital content business is performing, since it has stopped releasing financial information related to its digital content and commerce business, after the takeover by Reliance Industries.
Operational details
– Network18 claims to have a monthly average reach of approximately 25 million unique visitors for the first two months of this quarter, citing comScore numbers for Oct 14-Nov 14. Interestingly, this has remained same from the previous quarter.
– IBNLive.com, Firstpost.com and News18.com together got 5 million monthly unique users for the first two months of this quarter, which is significantly lower than 9 million monthly unique users in the previous quarter.
– Moneycontrol.com got an average of around 7 million monthly unique visitors for the first two months of this quarter, down from 8 million in the previous quarter. It also rolled out a public terminal interface for stock market updates, called ‘Terminal’ last month.
– BookMyShow mentions that it generated the highest ticket sales and highest monthly revenues till date in December, although no specific numbers were shared. It had reported revenues of Rs 84.02 crore in FY14, up 59.3% from Rs 52.8 crore revenues in FY13.
– Homeshop18.com says that its average monthly orders grew by 24% year-on-year, although no specific numbers were disclosed. The company had also scrapped its $75M NYSE IPO in November last year and its COO & E-commerce Business Head Narasimha Jayakumar had quit to join 99Acres. HomeShop18 had reported net revenues of Rs 368.2 crore in FY14, a 63.4% increase from Rs 225.4 crore revenues in the previous year.
Download – Press Release & Financials
Also read:
– AP Parigi is the new Network18 Group CEO
– TV18 reports Rs 60.38 Cr profit for Q3-FY15
– How Reliance Industries acquired Network18: A detailed timeline of events
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