Homeshop18 aims to make profits in FY14

Homeshop18, the online and on-air retail platform of

Network18 Group is looking to break-even in fiscal ’14, after witnessing a CAGR of around 80 percent over the past five years. In the sixth year of its operations, the company has witnessed over 100 percent growth in revenues for FY13 at over Rs 1,000 crores, and is hopeful of registering growth in FY14. As per the earnings report posted by promoter Network 18 Media & Investments, Homeshop18 clocked more than double the revenues in the April-June quarter of 2013 on year-on-year basis.

The company is betting big on rising number of consumers shopping online and extended reach of e-commerce in smaller towns, which is benefiting the online shopping portals. As per a recent research, India presently has around 150 million internet users, third only to the US and China. Homeshop18 claims to be witnessing around eight million unique visitors every month and its mobile application launched six months back has already hit 200,000 downloads.

To further establish its network and reach, Homeshop18 is investing in expanding its call center and warehousing capacities. In April 2013, the company had raised 30 million dollars (Rs 187 crores) from OCP Asia, which the company is utilising to carry out its planned expansion plans.