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/2016/08/24/India%27s%20%20Rio%202016%20Paralympic%20Games%20contingent%20along%20with%20SPN%20and%20GoSport....jpg?itok=nOWUFtKq
SPN India supports India' Paralympian's for Rio 2016 paralympic games

As a catalyst to the cause of empowering India’s sports talent, Sony Pictures Networks India (SPN) has partnered with the GoSports Foundation to identify and support Indian para-athletes across multiple Paralympic disciplines. The support covers high performance training, travel and competition...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/24/Untitled-1_1.jpg?itok=6E8Mzf3f
Sony Le Plex HD launches; destination for acclaimed & blockbuster movie titles

MUMBAI: Movie buffs are in for a treat as folks at Sony Pictures Network India (SPN) have come up with a premium fun hangout place for Hollywood film lovers. Called Sony Le Plex HD, the channel will be a house to not just from mainstream Hollywood movies but also acclaimed movies. With the brand...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/24/Untitled-1.jpg?itok=RpD-T-CL
UCWeb enters into strategic partnership with Colors TV

China based mobile browser company UCWeb has launched its new version in India with a strategic partnership with Viacom18’s Hindi GEC Colors TV for exclusive content.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/Untitled-1_35.jpg?itok=_c-EkWh1
Discovery brings new reality-drama series 'Hardcore Pawn'

Pawning is an old practice and pawn shops are a common phenomenon in the USA, where one can get quick and easy cash by pledging (loan) their personal belongings or selling their valuable items. Discovery’s new reality series HARDCORE PAWN takes viewers into the crazy and dynamic world of American...

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/Untitled-1_17.jpg?itok=vZbblkwZ
&TV's The Voice India Kids gears up for Battles

&TV’s premiere singing reality show The Voice India Kids has gained immense popularity and fan following for its great talent, fun banter between the Coaches and superlative singing. The young voices introduced in BLIND audition have definitely lived up to the motto of “Size kum hai, par dum...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/Untitled-1.jpg?itok=jQeeFfSA
Music genre emerges top gainer in HSM: Chrome week 33

With a marked increase of 2 per cent, the music genre emerged as the top gainer in Chrome’s Opportunity to See (OTS) analysis for the Hindi speaking market (HSM).

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/THE%20NUT%20JOB.jpg?itok=BOlV9Nj6
Discovery kids presents the tv premiere of acclaimed animation movie 'the nut job'

Discovery Kids presents the hit animated movie - THE NUT JOB,in Hindi for the time on Indian television. The movie features the adventures of the mischievous squirrel named Surlyand his mute rat partner Buddy in the fictional town of Oakton City.

Television TV Channels Kids
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/23/Arun-Thapar.jpg?itok=JO_E_HqM
A+E Networks|TV18 appoints Arun Thapar as executive vice president & head -content

A+E Networks|TV18 has appointed Arun Thapar as Executive Vice President & Head- Content. The announcement was made today by Avinash Kaul, Managing Director, A+E Networks | TV18 and President - Strategy, Product & Alliances - Network18 to whom Arun reports.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/08/22/Untitled-1_3.jpg?itok=BG2kE1Ga
TV producer Colosceum's new drive

MUMBAI: Lalit Sharma has one ambition that keeps him up all night, it's the drive to take his production house Colosceum Media into new vistas. The smiling soft-spoken bearded CEO whose charge has built up its reputation as a top notch producer of non-fiction and reality shows would like to balance...

Television Production House TV Commercial

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories