Rediff.Com Reports 10 % Increase in Revenues

Rediff.com India Limited (NASDAQ: REDF) on Monday announced its financial results for the third quarter ended December 31, 2007.

Revenues for the quarter ended December 31, 2007 totaled US$8.53 million, an increase of 10% over revenues from the quarter ended December 31, 2006.India Online revenues, which include advertising and fee-based revenues, for the quarter ended December 31, 2007 totaled US$6.12 million, an increase of 8% compared to India Online revenues for the quarter ended December 31, 2006.

US Publishing revenues for the quarter ended December 31, 2007 totaled US$2.41 million, an increase of 17% over US Publishing revenues for the quarter ended December 31, 2006. Gross margins for the quarter ended December 31, 2007 as well as for the quarter ended December 31, 2006 were 82%. Operating EBITDA decreased to US$1.33 million for the quarter ended December 31, 2007, compared to US$1.82 million for the quarter ended December 31, 2006.

Net income for the quarter ended December 31, 2007 was US$1.00 million, or 3.45 cents per ADS, compared to a net income of US$1.51 million, or 5.20 cents per ADS, for the quarter ended December 31, 2006.

Registered users grew to 62.7 million as of December 31, 2007, a 24% increase over the number of registered users as of December 31, 2006.
The number of companies advertising on Rediff’s website for the quarter ended December 31, 2007 totaled approximately 230, as compared to approximately 160 during the same quarter in the prior fiscal year.

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