Rediff.com reports 4.5 times increase in revenue

Rediff.com India, an Internet, communications and media company serving Indians globally, both online and offline, has announced its financial results for the second fiscal quarter ended 30 September 2001.

Revenues increased 4.5 times to $6.08 million compared to the same quarter last year. Loss per ADS, at the EBIDTA level, before one-time charges, decreased to 8.9 cents for the quarter ended 30 September 2001. Registered users increased 38 percent over last quarter to record 11.1 million as of 30 September 2001.

"I am pleased to report that our efforts on integrating our various businesses in India and USA have started paying dividends as demonstrated by lower customer acquisition costs and greater cross-sell of our online and offline product and service offerings amongst our consumers worldwide," said Ajit Balakrishnan, Chairman and CEO, Rediff.com India Ltd.

"This quarter continues to be one of careful and focused execution: effectively managing costs, creating profitable new revenue sources through product innovation, new product launches and making existing products more consumer friendly" concluded
Balakrishnan.