Indianroots.com reports Rs 3.37 cr losses

NDTV’s e-commerce business (Indianroots.com) has

reported revenues of Rs 52 lakh in its first operational quarter ended September 30, 2013 (Q2-FY14). It has reported a loss before tax of Rs 3.37 crore, up from Rs 1.33 crore in the previous quarter.

Indianroots.com currently focuses on Indian ethnic wear and claims to offer 16,000 products from over 112 ethnic brands and 30 designers including Sabyasachi Mukherjee, Raw Mango, Neeta Lulla, Anita Dongre, Meera-Muzaffar Ali and others. The products on offer include women’s apparel like saris, lehengas, salwar kameez, kurtis and others and men’s apparel like sherwanis, kurta pyjamas, jackets and others. It also offers accessories like jewelry, bags, wraps and others along with home furnishing and stationery products.

During the quarter, NDTV also sold 13,769 shares in NDTV Ethnic Retail (the company which operates Indianroots.com) to Rathi Strategic Ventures for Rs 10 crores. Earlier in March, NDTV subsidiaries NDTV Worldwide and NDTV Convergence had picked up 37.55 percent stake and 33.2 percent stake respectively in NDTV Ethnic Retail for Rs 4.2 lakh. The company had also roped in Fashionand you co-founder Rahul Narvekar to head its e-commerce operations in February 2013.