Rediff.com Posts Slightly Narrower Loss In Q4 - Quick Facts

(RTTNews) - Rediff.com (REDF), online provider of news, information, communication, entertainment and shopping services to Indians worldwide, Tuesday reported a net loss of $3.39 million compared with last year's loss of $3.47 million.

Net loss per american depository share or ADS amounted to $0.123 versus loss per ADS of $0.126 last year.

For the quarter, the company reported a 10 percent increase in overall revenues in rupee terms, while terms of US Dollar, the total revenues were $4.01 million, 4 percent down from $4.18 million in the comparable year-ago period. The growth in revenues were mainly driven by strength in the company's fee-based revenues and Online shopping marketplace, offset by declines in its traditional U.S. publishing business and online advertising revenues.

Commenting on the quarterly results, Ajit Balakrishnan, Chairman and CEO, Rediff.com India Ltd said : "We believe that our Online Shopping Marketplace and Enterprise Class Email Businesses will be the near-term growth drivers for our company, with the bulk of our growth coming from our Online Shopping Marketplace. I feel confident that longer-term, we will see meaningful growth from our Vubites platform to turbo-charge TV advertising using internet technology, which should have a carry-over effect on other aspects of our business."