Nasdaq listed Rediff.Com India Limited has posted strong Q2 results, especially with reference to growth in Indian online advertising. Recall from IAMAI & Pinstorm report that the Indian online advertising barely existed in 2002-03.
Excerpts from Rediff’s Q2 results
- QoQ growth in Indian Online advertising 20%. YoY growth for corresponding Q2 quarters is 94%. Q2 Income from Indian online advertising is $3.624 Million
- Has 160 advertisers and top 10 accounted for 57% of the revenues.
- Total revenues for Q2 – $6.66 Million. Higher by 53% compared to Q2 a year ago and a sequential QoQ growth of 15%.
- EPS of 5 cents a share (non-annualized)
Excerpts from Rediff’s conference call
- User base at 47.7 Million.
- Moves into product innovation by adding the following features. Fare Search targetted at Travel industry, Job Search for the booming job market, Product Search targetted to search price and features of various products and Image Search crawling images in the Indian context. Search queries on these vertical searches grew between 24% and 40% QoQ.
- User base for Rediff’s instant messanger grows by 50% this quarter over last quarter. Its already VoIP enabled.
- Substantial portion of Rediff’s online advertising is performance based.
- Key verticals that are driving growth in online advertising are Matrimonial, Jobs, Finance, Travel and Online Shopping.
- To strengthen Rediff brand, will consider advertising on TV networks.
Is the Mad Money Manager, Jim Cramer right in calling Rediff.Com the Google of India ?
Tags: Web India , Web 2.0 , Rediff , Advertising India
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