Zomato's FY14 revenues rise 2.6x to Rs 30.6Cr; Meritnation's more than doubles to Rs 20.28Cr
Info Edge (India) Ltd-backed companies Zomato Media Pvt Ltd and Applect Learning Systems Ltd have reported significant growth in their revenues for the full year ended March 31, 2014.
Zomato Zomato Media, owner of restaurant reservation and review site Zomato.com, has reported around 2.6x growth in its operating revenues for the full year ended March 31, 2014 to Rs 30.6 crore from Rs 11.38 crore a year ago. The operating EBITDA loss also widened to Rs 41.28 crore from Rs 10.03 crore last year.
Info Edge currently holds 50.1 per cent stake in the firm.
Meritnation Applect Learning Systems, the company behind the e-learning venture Meritnation, has recorded more than 2x increase in its revenues for the full year ended March 31, 2014 to Rs 20.28 crore from Rs 9.82 crore last year. The company's operating EBITDA loss also increased 33 per cent to Rs 28.53 crore, as against Rs 21.43 crore in FY13.
Last December, Info Edge had infused Rs 10 crore ($1.6 million) more in to the firm. With that investment, Info Edge's total exposure to Applect rose to Rs 71.5 crore and it holds around 55.81 per cent stake in Applect (on a fully diluted and converted basis).
(Edited by Joby Puthuparampil Johnson)