Nasdaq listed Rediff.com has said that for the fiscal ended March 31, 2011, the company’s India online advertising revenues grew to $17.94 million from $14.69 million reported on fiscal ending March 31, 2010. Rediff’s total revenues, which includes fee-based and online advertising and US publishing revenues, for the same period rose to $21.79 million in fiscal 2011 from $18.84 million reported in fiscal 2010. The company’s India online advertising revenues for the quarter ended March, 31, 2011 rose to $4.84 million from $4.03 million reported in the same quarter last year and total revenues in the same period grew to $5.64 million compared to $4.96 million for the quarter ended March, 31, 2010.
The company’s cash balance stood at $36.92 million, as of March 31, 2011, which provides sufficient working capital to meet its liquidity needs and to execute on its strategy, including investments in product development and marketing initiatives. Similar with past periods, Rediff expects to continue to invest $1.0 - $1.5 million per quarter throughout the fiscal year.
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