Rediff Reports 18 % Increase in Revenues

Rediff.com India Limited , one of the leading worldwide online providers of news, information, communication, entertainment and shopping services to Indians worldwide, on Thursday announced its financial results for the second quarter ended September 30, 2007.

Revenues for the quarter ended September 30, 2007 totaled US$7.86 million, an increase of 18% over revenues from the quarter ended September 30, 2006.India Online revenues, which include advertising and fee-based revenues, for the quarter ended September 30, 2007 totaled US$5.73 million, an increase of 22% compared to India Online revenues for the quarter ended September 30, 2006.US Publishing revenues for the quarter ended September 30, 2007 totaled US$2.13 million, an increase of 9% over US Publishing revenues for the quarter ended September 30, 2006.

Gross margins of Rediff.Com increased to 82% for the quarter ended September 30, 2007, compared to 80% for the quarter ended September 30, 2006.Operating EBITDA decreased marginally to US$1.04 million for the quarter ended September 30, 2007, compared to US$1.14 million for the quarter ended September 30, 2006.

Net income for the quarter ended September 30, 2007 was US$0.89 million, or 3.04 cents per ADS, compared to a net income of US$1.50 million, or 5.14 cents per ADS, for the quarter ended September 30, 2006.Registered users grew to 59.8 million as of September 30, 2007, a 25% increase over the number of registered users as of September 30, 2006.

The number of companies advertising on Rediff’s website for the quarter ended September 30, 2007 totaled approximately 190, as compared to approximately 160 during the same quarter in the prior fiscal year.

The Company’s video platform iShare launched last quarter has gathered momentum. The Company continued to enhance the platform: a new video and audio player with auto play, facility to view videos in full screen mode and a lighter version of the iShare client are some of the new features added.The Company is beta testing Rediff Language Search in eight Indian languages. It allows users to enter Indian language queries using QWERTY keyboards and obtain results in their desired language.

The Company enhanced its Consumer Finance Channel, Moneywiz with Market Voices, a live running commentary. This commentary is updated every few minutes during the trading hours of the Indian stock markets.

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