Rediff.com has reported a net income of $6.99 million for the fiscal year ended March 31, 2007, a growth of 478 per cent as compared to a net income of $1.21 million posted for the previous fiscal year. Revenues increased by 53 per cent at $28.68 million for the year ended March 2007, as compared to $18.70 million recorded a year ago.It was interesting to note that Rediff.com’s revenues for the full year ended March 07 grew 53% to $29 million whereas net income grew nearly six-fold to $7 million.
Ajit Balakrishnan, founder and chief executive officer, Rediff.com has also revealed that revenue per employee for Rediff.com is about $100,000 which is roughly double that of Infosys' $50,000.
Rediff says the number of registered users increased by 25 per cent to 53.6 million as of March 31, 2007. Total cash and cash equivalents and short term deposits with banks as of March 31, 2007 was $53.55 million.
Employment, matrimonial, finance, travel and IT products were the top five industry categories that accounted for 61 per cent of Rediff’s advertising revenues for the quarter ended March 31, 2007. During the same quarter, the top 10 advertisers contributed 55 per cent of Rediff’s advertising revenue for its India Online advertising business.
