Rediff.com (NSDQ: REDF) today said it was cautiously optimistic as revenues grew 11% (US dollar terms) and 7% (INR terms) on a sequential basis. India online revenues dropped nearly 40% to $3.95 million. Operating expenses will increase on an average by $1-$1.5 million for the next two to three quarters due to product development initiatives.
The economic environment for online advertising in India continues to be challenging. Indian advertisers in the credit card, home loan, online travel, jobs, matrimony, shopping and real estate segments who normally account for about half of all online advertising in India continue to face difficult business conditions,” chairman and CEO Ajit Balakrishnan said in a statement.
Rediff recently introduced a dramatically redesigned homepage and is in the process of applying the redesign throughout the site.
|1Q 2010||1Q 2009|