Rediff.com Earnings Triple

Revenue rises 53%.
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Rediff.com

(REDF)

, an online provider of news, information, communication, entertainment and shopping services, said Tuesday its earnings rose 287.1% for the second quarter, on increased gross margins.

The Mumbai, India-based company earned $1.50 million, or 5 cents a share, in the quarter, compared with net profit of $310,000, or 1 cent a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 5 cents a share.

Second-quarter revenue increased of 53% from the year-ago period to $6.66 million as against analysts' expectation of $6.3 million.

The gross margins increased to 80% for the quarter, compared with 70% a year ago. The operating EBITDA increased 128% to $1.14 million for the quarter, compared with 500,000 a year ago.

Shares fell 19 cents to $16.38.

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