This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rediff.com Publishes Its Unaudited Balance Sheet As Of September 30, 2011 And Its Statements Of Earnings For The Six Months Ended September 30, 2011

In compliance with the NASDAQ Rule 5250(c)(2), which requires that each foreign private issuer with securities listed on the NASDAQ distribute interim financial information within six months following the end of such foreign private issuer's second fiscal quarter, Rediff.com India Limited hereby publishes its unaudited consolidated balance sheet as of September 30, 2011 and its unaudited consolidated statement of income for the six months ended September 30, 2011. It should be noted that the financial statements set forth in this press release are subject to audit and while no significant changes are anticipated, an audit could result in adjustments which would result in the audited numbers varying from the financial statements set forth below.

   
REDIFF.COM INDIA LIMITED
CONSOLIDATED BALANCE SHEETS
As of March 31, 2011 and September 30, 2011
 

(All figures in US$ million)

 

As of March 31, 2011

As of September 30, 2011

 

(Audited)

(Unaudited)

Assets

Current Assets

Cash and cash equivalents

 

 

36.92

   

 

29.42

 
Trade accounts receivables, net   7.18     7.15  
Prepaid expenses and other current assets   1.70     1.47  

Total current assets

  45.80     38.04  
Property, plant and equipment, net   5.97     7.22  
Goodwill   2.00     2.00  
Intangible assets, net   3.27     2.83  
Investment, at cost   1.30     1.30  
Investments in equity method investees   0.54     0.31  
Recoverable Taxes   3.33     2.95  
Other non-current assets   1.73     2.31  
Total non-current asset   18.14     18.92  
Total assets   63.94     56.96  
         
Liabilities and shareholders’ equity

Liabilities

Current liabilities

Accounts payable and accrued liabilities

 

 

 

7.19

   

 

 

6.94

 
Customer advances and unearned revenues   1.58     1.84  
Total current liabilities   8.77     8.78  
Deferred tax liability   0.21     0.19  
Other non-current liabilities   0.86     0.85  
Total Liabilities   9.84     9.82  
Shareholders’ equity

 

Equity shares: Issued and outstanding

 

 

1.74

   

 

1.76

 
Additional paid in capital   128.83     130.64  
Accumulated other comprehensive Profit /(loss)  

(3.44

)

 

(7.29

)

Accumulated deficit   (68.60 )   (73.54 )
Treasury shares, at cost (See note below)   (4.43 )   (4.43 )
Total shareholders’ equity   54.10     47.14  
Total liabilities and shareholders' equity   63.94     56.96  
 
 
REDIFF.COM INDIA LIMITED
CONSOLIDATED STATEMENTS OF EARNINGS
For each of the half years ended September 30, 2010 and 2011
 

(All figures in US$ million)

 
Half year ended September 30,
2010   2011
(Unaudited) (Unaudited)
Revenues

India Online

8.33

8.60

US Publishing 1.92   1.89  
Total revenues 10.25   10.49  
Cost of Revenues (excluding depreciation and amortization separately disclosed below)

India Online

 

3.86

 

4.61

US Publishing 1.21   1.28  
Total cost of revenues 5.07   5.89  
Gross margin 5.18   4.60  
Operating Expenses

Sales and marketing

2.23

3.17

Product development 1.85 1.85
Depreciation and amortization 1.99 1.87
General and administrative 3.15 3.90
Foreign exchange loss, net 0.01   0.09  
Total operating expenses 9.23   10.88  
Operating loss (4.05 ) (6.28 )
Other income (expense), net
Interest income 1.66 1.54
Miscellaneous income 0.08   -  
Total other income, net 1.74   1.54  
Loss before income taxes and equity in net earnings of equity method investees

(2.31

)

(4.74

)

Income tax expense (0.01 ) -
Equity in net earnings of equity method investees (0.46 ) (0.20 )
Net loss (2.78 ) (4.94 )
 
 

Note:

During the Fiscal year ended March 31, 2010 the company established an ESOP trust for the benefit of the employees and purchased 750,000 shares (equivalent to 1,500,000 ADS). During the quarter ended December 31, 2010 Trust purchased an additional 265,000 shares (equivalent to 530,000 ADS). These shares are treated as treasury stock.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs