Earnings: Web18 Reports Rs. 7.19 Crore Q3 Operating Loss On Account Of Increase In Investments

Published: February 4, 2008, 6:50 am

Web18, the Internet and Mobile company of the Network18 group, has reported an operating loss of Rs. 7.189 crores for third quarter of 2007 (Q3-07), ending December 31st, compared to an operating profit of Rs. 2.11 crores for the same quarter last year. The losses are primarily due to a significant increase in the scale of investments over the past year; this is evident from the increase in operating expenses - at Rs. 24.8 crores for Q3-07, and 18.07 crores in Q2-07, compared to just Rs. 4.6 crores of operating expenses a year ago in Q3-06. An impact of the increase in investments is seen in operating revenues - Rs. 17.6 crores for Q3-07, up from just Rs. 6.73 crores in Q3-06, and increase of 161 percent. Some stats from the earnings release: -- The Web18 group of portals has crossed the 20 million pageviews per day. -- MoneyControl.com: Unique visitors to the site were up 30 percent from the last quarter. Pageviews increased by 63 percent. Time spent and pages viewed were up

[ Full article ]

Blog link

Comments