Television

Rediff reports $3.4 million Q2 revenues

MUMBAI: Leading Indian portal Rediff.com India Limited has announced its financial results for the second fiscal quarter ended 30 September with total revenues of $3.4 million.

India Online revenues grew by 18 per cent compared to the same quarter last year primarily on the back of growth in revenues from fee based services. Fee based revenues comprised of 49 per cent of total India Online revenues.

"Our focus this quarter has been on streamlining operations, developing and launching premium fee-based products in the area of mobile and subscription services," Ajit Balakrishnan, chairman and CEO, Rediff.com India said in a statement. "With these launches and product developments, we believe we are strongly positioned to capitalize from the growth when the demand for such value added services explodes in the Indian market", concluded Balakrishnan.

The highlights of financial performance are as follows: *Registered users grew by 31 per cent compared to the same quarter last year to 27.9 million.

*Loss per ADS at the EBITDA level was 3.7 cents or US$0.9 million compared to 7.9 cents or US$2 million for the quarter ended September 30, 2002.

*Net Loss per ADS, for the quarter was 5.6 cents or US$1.4 million compared to 34 cents or US$8.7 million for the corresponding quarter ended September 2002.

*The company continues to evaluate whether it can grow the Valucom communications business on its own or whether it is more prudent to consider partnering with players who have a larger scale of operations or whether to divest in whole or in part from the business.

*The company launched an innovative, first of its kind 'Mobile Search' application on the text messaging (SMS) platform that allows mobile subscribers to search and download ring tones from their cell phones.

*Revenues for the quarter ended September 30, 2003 were $3.4 million, as compared to $4.3 million in the same quarter last year. India Online contributed $0.77 million, an increase of 18% 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 September 30, 2003, declined marginally to $1.5 million, compared to the same quarter in fiscal 2002. Despite the marginal decline in revenues, US Publishing posted an improved performance due to tighter integration between US and India operations and cost rationalization initiatives.

*US Publishing comprised of India Abroad, a weekly news publication and Rediff USA online, which are leading and credible news providers to the Indian American community.

*Revenues from the phone card business were $1.2 million compared to $2.1 million for the same quarter last year. Lower revenues were due to decreased usage of US to India pre-paid phone services, reduced rates per minute, shifting of calls originating from the US to calls originating in India as well as management's decision to exit from the low margin prepaid wholesale phone card business.

*Gross Margin for the quarter was $1.3 million (37 per cent) compared to $1.1 million (27 per cent) in the same quarter last year.

*Total operating expenses decreased by $1 million for the quarter to $2.2 million, compared to $3.2 million for the same quarter last year.

The company realized these savings largely due to tighter integration of its operations between India and the US, cost rationalization initiatives implemented in the US publishing operations and the Valucom subsidiary.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/27/Untitled-1_1.jpg?itok=GAxeLaDX
Tomorrow’s bigwigs in 'India Inc 2.0' on ET Now

MUMBAI: ET NOW, India’s leading English Business News channel, is launching a brand new series India Inc 2.0. Tune in to ET Now beginning 29 April to watch 'India Inc 2.0' every Saturday at 1230pm & 1030pm, and Sun 8pm This series features some of the most dynamic corporate leaders of tomorrow...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/27/Colors%20Bangla.jpg?itok=TDv9xoge
Colors Bangla plans three shows in May – Mahaprabhu, Roopkatha & Jhumur

MUMBAI: Summers in Kolkata is about to get cooler, as Colors Bangla is all set to rejuvenate your evenings, with a line-up of refreshing content. Starting May 1st, be prepared for some power-packed entertainment with the launch of 3 new shows on Colors Bangla, Mahaprabhu Sree Chaitanya on May 1 at...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/27/ESPN-Story.jpg?itok=S0eyHPDi
ESPN viewership plummets, rising costs result in mass lay-off

MUMBAI: Trimming around 10 per cent of writers and on-air talent, plans to lay off around 100 ESPN employees is under way, including Len Elmore, Trent Dilfer and Danny Kanell, former athletes who worked as broadcasters -- the aim being switching to a digital strategy. While longtime NFL reporter...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/26/zee.jpg?itok=dfVquBL8
ZEEL takes Bollywood movie channel to Latam

Setting a new landmark, leading Indian content company, Zee Entertainment Enterprises Limited (ZEEL) has announced its expansion into Latin America with the launch of its Spanish-language Bollywood movie channel, Zee Mundo in Mexico and Ecuador. With this, ZEE becomes the first-ever Indian...

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/26/discovery.jpg?itok=nmaneghf
Discovery Asia partners VS Media & Tabilabo

Discovery Networks Asia Pacific has announced two new partnerships across Asia, with VS Media – a top MultiChannel Network (MCN) that super-serves digital natives in Greater China with more than 120 million subscribers and 320 million video views a month, and Tabilabo – one of the leading and...

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/26/tv%20viewers_0.jpg?itok=oBgv_l_a
Convenience & personalised content prompts 78% India's TV viewers' shift to OTT

MUMBAI: There has been a steep decline over the past year in the percentage of India’s consumers who prefer to view TV shows on TV sets. That percentage dropped 78 per cent, from 47 per cent to 10 per cent. In the United States, the number fell 57 per cent (from 59 per cent to 25 per cent), and...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/26/Arnab-Story.jpg?itok=S_X9Pi2q
Arnab's 'The Newshour' lands Times Now in soup in UK

MUMBAI: United Kingdom broadcast regulator Ofcom has studied several episodes of Times Now’s nightly show ‘The Newshour’ from last summer, which was broadcast during the rising tensions between India and Pakistan over Kashmir.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/26/Subhash-Chandra.jpg?itok=ht4rrVPQ
Zee Learn PAT more than doubles for FY-17

BENGALURU: The Essel Group’s core education company Zee Learn Limited (ZLL) reported 2.43 times consolidated profit after tax (PAT) in the year ended 31 March 2017 (FY-17, current year) as compared to the previous year. The company reported consolidated PAT of Rs 36.65 crore (20.5 percent of Total...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/25/Republic-Story%20%281%29.jpg?itok=fyc-97vb
Republic TV buzzing with pre-launch teasers featuring 'soft' targets, issues

Can the cocktail circuit media and Maoist sympathisers please stand up and name themselves?: Arnab Asks”. The latest tweet from Republic stated. With Arnab Goswami and his new project Republic TV, it cannot be the normal. Rather, true to his style, honed to a level of art, hype is the new normal...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories