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Rediff’s revenues grow by 22% at $8.32 million for 1Q 2007-08; net income declines by 64%

Rediff.com has reported a growth of 22 per cent in its total income at $8.32 million for the first quarter ended June 2008, as compared to $6.8 million posted for the corresponding quarter of the previous fiscal year. However, Rediff’s net income declined by 64 per cent from $2.12 million reported for the June 2007 ended quarter to $0.77 million recorded for the first quarter of the current fiscal year. The company earned $1.17 million from interest during the June 2008 ended quarter.

Rediff.com has reported a growth of 22 per cent in its total income at $8.32 million for the first quarter ended June 2008, as compared to $6.8 million posted for the corresponding quarter of the previous fiscal year. However, Rediff’s net income declined by 64 per cent from $2.12 million reported for the June 2007 ended quarter to $0.77 million recorded for the first quarter of the current fiscal year. The company earned $1.17 million from interest during the June 2008 ended quarter.

Rediff’s India Online revenues, which include advertising and fee-based revenues, for the quarter ended June 2008 totalled $6.56 million, which was an increase of 42 per cent compared to $4.62 million recorded a year ago. US Publishing revenues, however, went down by 19 per cent from $2.18 million reported for the June 2007 ended quarter to $1.76 million posted for the first quarter ended June 2008.

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