Hyderabad based Northgate Technologies Ltd is in significant cost-cutting mode: the company, which also owns the social networking site Bharatstudent.com.
We’ve been tracking Northgate for a while now, and from what we’ve gathered - their business largely been dependent on their Advertising vertical - Axill. The diversification into allied businesses like Social Networking and IPTV has been a means of creating inventory for Axill. For example, Globe7 recently partnered with SingTel in Singapore to deliver free content - live TV channels, news updates, movies, games and radio content to SingTel’s Wireless@SG users.
... challenge for the company is perhaps reflected in a 21.64% quarter on quarter decline in revenue, 44% decline in net profit and 95.05% increase in Selling and Marketing expenses.
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