Web18 posts Rs 7 crore operating loss for 3Q due to increase in investments

Web18, the online division of the Network18 group, has reported an operating loss of Rs 7.189 crore for the third quarter ended December 2007, compared to an operating profit of Rs 2.11 crore for the same quarter of the previous year. According to Web18, the loss is primarily due to a significant increase in the scale of investments over the past year.

The operating expenses increased from Rs 4.6 crore in the December 2006 ended quarter to Rs 24.8 crore for the third quarter of the current fiscal year. During the same period, Web18’s operating revenues increased from Rs 6.7 crore to Rs 17.6 crore. Web18 claims its portals have crossed a combined 20 million page views a day. (Source: ContentSutra)