NDTV's operating loss from e-commerce segment increases to Rs 6.5 crore in Q3 FY16
NDTV has released its Q3 FY16 report recently. According to the report NDTV’s operating loss from the e-commerce segment increased to Rs 6.5 crore in Q3 FY16 from Rs 6.02 crore in the corresponding quarter last fiscal.
The company has also reported a standalone net loss of Rs 7.4 crore in Q3 FY16 compared to a net profit of Rs 2.65 crore in the corresponding fiscal.
According to the results, income from operations in Q3 FY16 stood at Rs 108.78 crore from Rs 112.59 crore last fiscal.
Moreover, expenses stood at 112.74 crore compared to 106.02 crore during the corresponding period last fiscal.
NDTV’s online venture --BandBaajaa.com – designed to launch NDTV into the online wedding and festival planning market managed to raise USD 20 million from the leading US venture capital firm CerraCap Ventures during the quarter.
NDTV’s Gadget Portal, Gadgets360’s e-commerce business clocked product sales of Rs 21 crore till January’ 16 within two months of the launch while maintaining a positive contribution margin.
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