Television

Rediff revenues at $3.4m for Q1FY2003

NEW DELHI: Rediff.com India Limited (Nasdaq: REDF), a premier worldwide online provider of news, information, communication, entertainment and shopping services for Indians, today announced its financial results for the first fiscal quarter ending 30 June 2003 with total revenues for the quarter at $3.4 million.

Supported by growth in fee-based services, India Online revenues grew by 25.4 per cent, over the same quarter last year. Non-advertising revenues from fee-based services comprised 48.7 per cent of total India Online revenues, according to a statement from Rediff.

The US publishing division posted modest first quarter operating profits at the EBITDA level, despite a decline in revenues of 12.3 per cent over the same quarter last year.

Valucom subsidiary improved its business matrix with high gross margins, significant repeat sales to existing customers at an average ticket value of $125 per transaction. Nonetheless, revenues declined by 70 per cent over the corresponding quarter last year.

According to the statement, registered users grew 37 per cent compared to the same quarter last year to 26.5 million.

The loss per ADS at the EBITDA level was 5.6 cents or US$1.4 million compared to 5.7 cents or US$1.5 million for the quarter ended 30 June 2002.

The net loss per ADS, for the quarter was 7.9 cents or US$2.0 million compared to 7.0 cents or US$1.8 million for the corresponding quarter ended June 2002.

Total operating expenses for the quarter ended June 30, 2003, decreased by $400,000 or 14 per cent to $2.5 million compared to the corresponding quarter last year. This decrease was largely due to cost reduction initiatives implemented in the company's US publishing operations and Valucom subsidiary.

"The growth in cellular subscribers has resulted in an increased usage of value added services on the text messaging platform and we believe that increased PC penetration will result in the steady rise of Internet subscribers in the quarters ahead," the statement quoted Rediff.com India Ltd. chairman Ajit Balakrishnan.

Revenues

Revenues for the quarter ended 30 June 2003 were $3.4 million, as compared to US$6.3 million in the same quarter last year.

India Online contributed $0.75 million, an increase of 25.4 per cent when compared to the same quarter last year on the strength of growth in fee base services. Fee based services comprise mobile services, subscription services and merchandising.

Revenues for US Publishing for the quarter ended June declined by 12.3 per cent to $1.4 million, compared to the same quarter in fiscal 2002.

Rediff.com India Limited is one of the premier worldwide online providers of news, information, communication, entertainment and shopping services for Indians. Rediff.com additionally offers the Indian American community in the United States and Canada one of the oldest and largest Indian weekly newspapers, India Abroad.

Founded in 1996, Rediff.com is headquartered in Mumbai with offices in New Delhi and New York, USA.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/20/ra.jpg?itok=DxzPxtHB
Viacom18 confirms the departure of Raj Nayak

In an official statement released to the media, Viacom18 confirmed the departure of Raj Nayak, the media network’s Chief Operating Officer.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/20/sony.jpg?itok=XlwZkCP5
Sony Pictures Networks India gears up for the India tour of Australia with engaging programming initiatives

For the year ending high-octane cricket series between India and Australia, Sony Pictures Networks India (SPN), will be undertaking several initiatives to enhance the viewing experience and increase engagement with cricket enthusiasts across the nation.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/20/sagnik.jpg?itok=kKMr0u3H
Sony Entertainment Television appoints Sagnik Mukherjee as AVP marketing

Sagnik Mukherjee is set to join Sony Entertainment Television as associate vice president marketing, a source close to the development confirmed to Indiantelevision.com.

Television TV Channels People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/20/raj-nayak.jpg?itok=ZDdRSmtK
Viacom18 COO Raj Nayak quits

Colors' Big Boss has quit, according to media reports. We are talking about Viacom18 COO Raj Nayak, who is the brain behind the most popular reality show Big Boss.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/19/NG.jpg?itok=K2t16PB_
Monuments Turn Red, As National Geographic Raises an Alarm for Planet Conservation

Glaciers are melting, sea levels are rising, pollution in various parts of the world is at its peak, and tonnes of plastic waste is in the oceans.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/20/joy.jpg?itok=tz_9y8_I
Network 18's Joy Chakraborthy steps down

Forbes CEO and Network 18 President(Revenue) Joy Chakraborthy has stepped down from his role, according to media reports.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/19/jony.jpg?itok=pT_heat_
Sony BBC Earth hosts the extraordinary Natural History Producer and Global Storyteller, Jonny Keeling, in India

Sony BBC Earth, India’s No. 1 factual entertainment channel and home to the most iconic and premium content, continues to deliver to its promise of making the viewers ‘feel alive’.

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/19/jumanji.jpg?itok=g7Q0FcKR
‘Ab Jungle meinhoga Dangal’ with the Hindi Television Premiere of Jumanji: Welcome to the Jungleon November 24th at 8pm only on &pictures

Ever wonder how it feels to be inside a game and play the character you choose? In the brand-new adventure Jumanji: Welcome to the Jungle, the tables are turned as four teenagers in detention are sucked into the world of Jumanji.

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/19/tv.jpg?itok=sMpw7SEL
Broadcasters see regional adex space growing

Now that the Hindi fervour has died down, broadcasters and advertisers have latched on to the regional segment. It's no wonder that the adex in the space is expected to grow as well. According to the global ad growth forecast of GroupM, India’s adex is expected to grow at 14.2 per cent compared to...

Television TV Channels Regional

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories