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Web18 records 26% growth in revenues at Rs 18 crore for 1Q 2010-11

Web18, which holds all the internet properties of the Network18 group, has reported a growth of 26 per cent in its revenues at Rs 18 crore for the first quarter ending June 30, 2010, as compared to Rs 14 crore a year ago. Operating losses went down from Rs 4 crore recorded for the June 2009 ended quarter to Rs 3 crore reported for the first quarter of the current fiscal year.

Web18, which holds all the internet properties of the Network18 group, has reported a growth of 26 per cent in its revenues at Rs 18 crore for the first quarter ending June 30, 2010, as compared to Rs 14 crore a year ago. Operating losses went down from Rs 4 crore recorded for the June 2009 ended quarter to Rs 3 crore reported for the first quarter of the current fiscal year.

According to the company, entertainment ticketing website BookMyShow.com witnessed 200 per cent growth in ticket sales during the June 2010 ended quarter, as compared to the corresponding quarter of the previous year. During the reviewing quarter, the company’s personal finance portal MoneyControl.com launched its Hindi avatar, while the horizontal portal In.com launched a new version of its email service, added a mobile version and strengthened its digital music focus.

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