Rediff.com registers $8.48 million revenue

Chennai, May 17: Rediff.com India Limited, one of the leading worldwide online providers of news, information, communication, entertainment and shopping services, announced its revenues totalling $ 8.48 million in the fourth quarter ended March 31, 2007, an increase of 66 per cent over the corresponding period last year.

A company release here today said India Online revenues, which included advertising and fee-based revenues, for the same quarter registered at $ 6.30 million, an increase of 76 per cent over the previous fiscal. Net income for the quarter was $ 2.00 million, against $ 0.53 million of the corresponding quarter last year.

Total revenue for the fiscal year ended registered $ 28.68 million, a hike of 53 per cent over the previous year.

India Online revenues for the fiscal year ended March 2007 totaled $ 20.76 million, an increase of 71 per cent compared to the previous fiscal. Net income for the fiscal year ended was $ 6.99 million, compared to $ 1.21 million for the previous fiscal.

The number of registered users grew to 53.6 million as of March 31, 2007, a 25 per cent hike over March 31, 2006.

Online advertising continued to drive growth for the company.

Revenues from the India Online advertising business grew by 92 per cent for the quarter ended March 31, 2007 compared to the same quarter in the prior fiscal year, the release added.

UNI