Network18 digital content & e-commerce Q1 FY13 revenue at Rs 72.8 crore, up 41% on year
Network18 Media & Investment's digital content and e-commerce platform's revenue for the quarter ended June 30 stood at Rs 72.8 crore, up 7.7 per cent from Rs 67.6 crore in the previous quarter and up 41 per cent from Rs 51.7 crore Q1 FY12.
The company's digital content and e-commerce business consists of various properties like Web18, HomeShop18 and Newswire18. Web18 business comprises Moneycontrol.com, Ibnlive.in.com and BookMyShow.com, while HomeShop18 houses its television and ecommerce business of the firm.
The revenue for its digital commerce segment for Q1 FY'13 stood at Rs 44.6 crore, compared with Rs 36.1 crore for Q4 FY12.
For the full year ended June 30, HomeShop18's revenue grew 85 per cent from a year ago. Additionally, its orders executed during the year grew by over 80 per cent year-on-year. HomeShop18 had ventured into mobile commerce last quarter.
The digital content operations recorded revenues of Rs 16.7 crore, a decline from the segment's Q4 FY'12 revenue of Rs 19.8 crore. According to the company, Moneycontrol.com crossed eight million unique users in May. A new brand,in.com, an entertainment destination for youth was launched during Q1 FY13. During the same quarter, Firstpost completed a year, and ibnlive launched a new iphone app. On the other hand, Newswire 18 recorded a revenue of Rs 11.5 crore for the quarter, a slight decrease from Rs 11.6 crore in the last quarter.
Bookmyshow.com had a spectacular quarter, propelled by increased IPL sales.
Network18 as a company:
Network18 Media & Investment's consolidated revenue for the first quarter of FY13 stood at Rs 488.9 crore, a significant drop from Q4 FY'12, when it stood at Rs 659.5 crore.
TV18's revenue for the television and motion pictures business stood at Rs 346.9 crore for Q1 FY'12, a growth of 30 per cent over the corresponding quarter last year.
(Edited by Prem Udayabhanu)