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Rediff.com Q4 revenue up by 66%

Revenues for the quarter ended March 31, 2007 totaled US$ 8.48 million, an increase of 66% over revenues from the quarter ended March 31, 2006.

Mumbai (IndiaPRwire)

Rediff.com India Limited (NASDAQ: REDF), one of the leading worldwide online providers of news, information, communication, entertainment and shopping services to Indians worldwide, today announced its financial results for the fourth quarter and fiscal year ended March 31, 2007
Financial Results

  • Revenues for the quarter ended March 31, 2007 totaled US$ 8.48 million, an increase of 66% over revenues from the quarter ended March 31, 2006.
  • India Online revenues, which include advertising and fee-based revenues, for the quarter ended March 31, 2007 totaled US$6.30 million, an increase of 76% compared to the quarter ended March 31, 2006.
  • Operating EBITDA increased to US$ 2.01 million for the quarter ended March 31, 2007, compared to US$ 0.71 million for the quarter ended March 31, 2006.
  • Net income for the quarter ended March 31, 2007 was US$ 2.00 million compared to a net income of US$0.53 million, for the quarter ended March 31, 2006.

Financial Results for the Fiscal Year Ended March 31, 2007

  • Revenues for the fiscal year ended March 31, 2007 totaled US$28.68 million, an increase of 53% over revenues during the fiscal year ended March 31, 2006.
  • India Online revenues for the fiscal year ended March 31, 2007 totaled US$20.76 million, an increase of 71% compared to the fiscal year ended March 31, 2006.
  • Operating EBITDA for the fiscal year ended March 31, 2007 totaled US$5.93 million, an increase of 147% compared to Operating EBITDA during the fiscal year ended March 31, 2006.
  • Net income for the fiscal year ended March 31, 2007 was US$6.99 million, compared to a net income of US$1.21 million for the prior fiscal year.

Registered Users

  • Registered users grew to 53.6 million as of March 31, 2007, a 25% increase over the number of registered users as of March 31, 2006.

Advertising Revenues

  • Online advertising continues to drive growth for the Company. Revenues from the India Online advertising business grew by 92% for the quarter ended March 31, 2007 compared to the same quarter in the prior fiscal year.

 

 

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