Rediff records 15 percent growth in registered user base

Rediff has recorded an increase of 15 percent in registered user base as compared to 2009. As of September 30, 2010, total registered users of this digital media brand grew to 95 million , a Rediff release said on Thursday.

Rediff has attracted more visitors following the addition of new features like social networking, gaming and music. The company has also claimed 46% growth in advertising revenues during the second quarter ended September 30,2010

“The economic recovery in India continued in the second quarter ended September 30, 2010 and subsequently, core online advertising revenues in our India business grew 46% compared to the same quarter of the previous year; total India revenues, which includes fee-based and online advertising revenues, grew 35% for the quarter, while our global revenues grew 21% for the quarter, in each case over the same quarter last year,” Ajit Balakrishnan, Chairman and CEO, said .

Rediff’s key focus has been on strengthening its core business by improving operational efficiencies through better alignment of its infrastructure and resources, and the full-scale implementation of a new, integrated CRM system. Changes implemented throughout the second quarter have enabled the Company to be more responsive to customer demands.

The Management has been highly focused on improving its utilization and delivery of inventory by offering various SKUs to Rediff’s clientele, all the while staying true to the Company’s core focus and campaign objectives. Rediff will continue to invest $1.0 – $1.5 million per quarter throughout the fiscal year and into early fiscal 2011 as it continues to enhance its technology platform and service offering.

“Over the past few years, the global economic recession has put a strain on our business, both from top and bottom-line perspectives, but we believe the worst is behind us and continue to see positive signs that the market has stabilized. New products and services introduced over the past year have been focused on improving our users experience, as well as expanding our footprint in new growth segments, such as social networking, gaming and now, mobile services. Our balance sheet remains strong and we believe Rediff has improved its competitive position and is poised for growth in the years ahead,” Ajit Balakrishnan said.

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