News Headline
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.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
