This story was written by Nikhil Pahwa.
From ContentSutra: Indian online portal company Rediff (NSDQ: REDF) has announced earnings of $32.25 million for the fiscal year ending March 31st 2008 (FY08), up 13 percent from the previous fiscal. However, while the company registered a profit of $5.03 million, it was down 38 percent from $6.99 million from FY07. This, despite an increase in interest income for the year, at $5.51 million this fiscal, from $3.73 million for the last fiscal. Importantly, operating expenses increased by 26 percent to $21.86 million for FY08, up from $17.33 million for FY07. The company says this is primarily due to higher bandwidth, advertising and marketing expenses, stock-based compensation and payroll costs. More details here.
By Nikhil Pahwa