Rediff.com continued to register losses for another consecutive year, its third loss making year in a row, albeit with a marginal decline. For the financial year ended 31st march 2011, Rediff's annual net loss was at $6.57 million , a decline of 18% from the previous year's loss of $8.03 million. Total India Revenues for the financial year FY11 saw an increase of 22.12% at $17.94 million compared to the previous year's revenues of $14.69 million. Total revenues for the year also grew marginally by 15.6% at $21.79 million, compared to FY10's $18.84 million. The Company’s cash balance stood at $36.92 million, as of 31st March 2011. Rediff expects to continue to invest $1.0 - $1.5 million per quarter throughout the fiscal year. It's been quite a year for the Rediff.com ADR, though - from being down in the dumps at $1.69 on July 21st 2010, the Rediff.com ADR has been above or around the $10 mark since April, and rose to $17.98 late during the fiscal year. What's driving this increase in share price? Quarterly Results Rediff reported growth in online advertising revenues, witnessing an increase of 24% Year-on-Year for the quarter ended 31st March 2011. Its total India revenues, which include fee-based and online advertising revenues, increased 20% YoY at $4.84 million and contributed to a 13.7% increase in total revenues. Rediff reported a net loss of $2.28 million, a small decline compared to Q4FY10, and Operating EBITDA increased 31.02% to a loss of $1.29 million The company informs that its…
