The Q3 results are out and this quarter can be termed as the worst quarter in terms of earnings since the last 2-3 years or so. Many companies internet and mobile companies are in the negative and the future looks uncertain as far as growth numbers is concerned given the slowdown.
Rediff – Rediff’s quarter earnings from India were down 33% while from US was down 50%. A cumulative drop of 38% in total revenue from Q3 07-08. This drop also impacted its net income which was a loss of 2.84 million dollars. Rediff though said that they were in cash conservation mode and currently had a cash/bank balance of 47 million $. Rediff also made clear that it would continue to focus on investments in mobile, local search and regional languages.
Download entire earnings release here.
Infoedge – Infoedge continued to be in the positive as was indicated by its CEO Sanjeev Bikhchandani on the WATShow interview. The total revenue increased to Rs. 58.92 crores up from Rs.54.79 crores in the same quarter last year. The company resistered a net profit of 17.2 crores this quarter which was a rise of 31.47% from Rs. 13.92 crores in the corresponding quarter in FY 07-08.
All in all naukri seems to acknowledge the slow growth but that hasn’t stopped new initiatives like Firstnaukri being launched. It also continues to state that Jeevansathi its matrimony portal and 99acres its property portal continue to be in investment mode.
Download entire earnings release here.
Sify - Sify reported revenues of $32.87 million for the quarter ended 31st December 2008, 4% higher than the same quarter in the previous year. The growth came from the enterprise business which registered a rise of 13% over the same quarter of the previous year and an increase of 2% over the previous quarter while the consumer business revenues showed the downward slide of 11% over the previous quarter. Even with the slowdown the international business continued to grow with an increase of 9% over the previous quarter.
Though overall the company registered a net loss of $5.03 million as against a Net profit of $0.83 million in the same quarter in the previous year.
Sify made quite a few launches in new gaming vertical Antzill and also its tie up ith Google to power up its email services. In the future sify hopes to see growth from VOIP busines and data centre services. On the cost front they are reviewing costs such as their current facilities and infrastructure, and are consolidating them to reduce overall operating costs. Some of their outsourced services have also been scaled back given the current environment.
Read the entire earnings report here.
HTMedia – HT Media’s net profit was at Rs 7.82 crore versus Rs 36.86 crore during the same quarter 07-08. Its net sales were pegged at Rs 337.1 crore. The operating profit was at Rs 45.7 crore versus Rs 59.22 crore during the same quarter last year.
HTMedia disclosed that total registered users on Shine.com its jobsite were now pegged at 1.6 million. During this quarter it also forayed into mobile marketing through a joint venture with Velti.
Read the entire earnings report here.
Idea – Idea Cellular posted a net profit of Rs 219.45 crore which is a 7.32% fall from Rs 236.77 crore same quarter 07-08.
The overall income increased to to Rs 2,731.05 crore from Rs 1,710.31 crore during the same quarter last year. This shows that though the overall income has increase the profit margins seems to have declined.
I feel a new player like Idea could benefit a lot from data card markets as they have recently launched the netsetter card which could help them position better against giants like BPL mobile, Vodafone and Bharti. Also if and when Mobile number portability comes in it would be great for MVNO’s and smaller players like Idea.
Download the entire earnings release here.
Bharti Airtel - Bharti posted a 26% growth and also added a record number of subscribers this quarter. Net income showed a rise to Rs 2,160 crore from Rs 1,720 crore same quarter last year. Total sales grew by 38%.
Bharti continues its expansion strategy across rural india which helped add 8.17 million users in this quarter. Even the there was a fall in ARPU from Rs.331 to Rs.324 bharti said that it would spend the allocated Rs 17, 500 crore this year on adding networks and would invest a similar amount in the coming financial year as well.
Read a report on the Q3 earnings here.
Rcom - RCom which is the second largest telecom player after Bharti reported a 2.7% rise in quarterly profit with respect to same quarter last year.
Total income decreased to Rs 3,398.73 crore from Rs 3,410.82 crore same quarter 07-08. Though the subscriber numbers grew by 5.3 million mobile users during the quarter to take its total to 61.3 million users at the end of December, up about 50 per cent from a year earlier. It was stated that the company would have a reduced capex of Rs 15,000 crore in the coming financial year.
Read an earnings report on Rcom here.
