Online Indian Media business Rediff.com has reported its 19th straight quarter of losses, despite India Advertising revenues increasing 9% quarter on quarter to $2.33 million, a third consecutive quarter of increase. The increase was attributed largely to an increase in spends by clients in the Banking, Financial Services and Insurance industries (BFSI) segment - which is normal in Q4 because the insurance sector increases advertises to target Indian taxpayers who buy insurance to reduce tax at the end of the fiscal year; Telecom, Education, Tourism and Real Estate sectors apparently increased spends as well, but "The auto industry have not been visible at all in the last six months," Ajit Balakrishnan, Chairman and CEO of Rediff told MediaNama. Rediff had 207 advertisers, he said, adding that advertising rates have been stable during the quarter. Advertising levels, though "are still lower than pre-recession days." Ecommerce Rediff reported net ecommerce revenues (i.e. not value of goods sold) of $0.6 million for the quarter, up 19% quarter on quarter, and 105% year on year. The year on year growth in net revenues the previous quarter was 95%. Some back of the envelope calculations that we did: - Gross revenues should have been $5 million for Q4-FY13 (since gross margin = net revenue/gross revenue). - Net revenue for Q3-FY13 should have been $0.5 million. - Net revenue for Q4-FY12 should have been $0.29 million. - Net revenue for Q3-FY12 should have been $0.26 million. Other notes related to E-Commerce - Merchants: The total number…
