REDIFF.COM REPORTS FOURTH QUARTER AND YEAR END RESULTS
The Company also provides guidance for the April-March 2002 fiscal year.
MUMBAI, INDIA, APRIL 19, 2001: Rediff.com India Limited (Nasdaq: REDF), one of India's leading Internet
portals focusing on India and the global Indian community, today announced its financial results for the fourth
quarter and fiscal year ended March 31, 2001.
- Net revenues increased by 113 percent to US$1.5 million compared to quarter ended March 31, 2000.
- Fourth quarter 2001 loss per ADS decreased to US$0.10 compared to US$0.11 for the same period 2000 on
a comparable basis.
- Rediffmail subscribers increased 56 percent over last quarter to record 6.4 million as of March 31, 2001.
- Page views for quarter ended March 31, 2001 were 965 million, an increase of 44 percent over quarter ended
December 31, 2001.
- Rediff.com completed acquisition of Value Communications Corporation.
- Rediff.com entered into agreement to acquire India Abroad Publications.
- Rediff.com completed its investment in Apnaloan.com.
Ajit Balakrishnan, Chairman and Chief Executive Officer, Rediff.com India Limited stated, "The portal business
model is rapidly evolving away from attracting visitors with free services and charging advertisers for access to
these visitors to one of providing a broad range of services to consumers, advertisers and e-marketters. These
services must be differentiated adequately and be valuable enough for all beneficiaries to pay a just price for
them. We are happy to report that through internal efforts and through acquisitions Rediff.com is at the forefront
of this evolution".
Revenues for the fourth quarter ended March 31, 2001 are estimated to be US$1.5 million, representing an
increase of 113 percent over the corresponding quarter in the previous year. For the fiscal year ended March 31,
2001, revenues are estimated to be US$5.6 million, representing an increase of 193 percent from the fiscal yea