Rediff.com India Ltd has reported an 18 per cent hike in its revenues at $7.86 million for the quarter ended September 30, 2007. Net income for the second quarter stood at $0.89 million as compared to a net income of $1.50 million for the corresponding quarter of the previous fiscal.
India Online revenues, which include advertising and fee-based revenues, for the second quarter totalled $5.73 million, up 22 per cent. However, operating EBITDA decreased marginally to $1.04 million, compared to $1.14 million for the second quarter of FY07.
Rediff.com has reported a 25 per cent rise in the number of its registered users at 59.8 million for the second quarter.
Meanwhile, the company is beta testing Rediff Language Search in eight Indian languages, which allows users to enter Indian language queries using QWERTY keyboards and obtain results in their desired language.
The company has also enhanced its consumer finance channel, Moneywiz with Market Voices, a live running commentary. This commentary is updated every few minutes during the trading hours of the stock markets.