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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.
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.
