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Web18 posts net loss of Rs 34.29 crore for 2007-08

Web18, which holds all the internet properties of Network18 Group, has reported a net loss of Rs 34.29 crore for the year ended March 2008, as compared with Rs 7.4 core recorded a year ago. Revenues increased by 124 per cent at Rs 57.30 crore for the fiscal year 2007-08, as compared with Rs 25.58 crore reported for the March 2007 ended year.

Web18, which holds all the internet properties of Network18 Group, has reported a net loss of Rs 34.29 crore for the year ended March 2008, as compared with Rs 7.4 core recorded a year ago. Revenues increased by 124 per cent at Rs 57.30 crore for the fiscal year 2007-08, as compared with Rs 25.58 crore reported for the March 2007 ended year.

In the fourth quarter ended March 2008, Web18 recorded a net loss of Rs 14.65 crore, as compared with a net loss of Rs 3.23 crore recorded in the fourth quarter of the previous fiscal year. Revenues increased by 112 per cent at Rs 18 crore in the March 2008 ended quarter, as compared with Rs 8.5 crore in the corresponding quarter a year ago.

Web18 managed properties include the group’s flagship portal TV18online.com, online news portal IBNLive.com, popular financial portal MoneyControl.com, CommoditiesControl.com, PowerYourTrade.com, IndiaEarnings.com, sports portal CricketNext.com, product comparison site CompareIndia.com, jobs classified site JobStreet.com, travel portal Yatra.com, technology news portal Tech2.com, entertainment portal Buzz18.com, women focussed site Indiwo.com, e-commerce website StoreGuru.com, Hindi news portal Josh18.com and interactive marketing agency Urban Eye Media.

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