Earnings: Rediff.com Posts 2Q Profit, Shares Jump

Rediff.com, among India’s biggest portals (and traded on Nasdaq), posted a sizable profit for Q3, reversing a year-ago loss. Rediff earned $307,000, compared with a year-ago loss of $381,000. Revenue grew 44 percent to $4.4 million from $3 million. The company said growth was driven by a nearly 90 percent jump in revenue from its India Online–which comprised of Rediff.com–operation.

Its shares bounced up to $3.20, or 21.2 percent, to $18.32 in morning trading on the Nasdaq. Over the past 52 weeks, its shares have bounced around between $5.52 and $18.50.

More in the release here

I would say it is a good acquisition target for media companies trying to enter India…independent and big brand name within the Indian community, both in Indian and expatriate community abroad.

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