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23% transactions on Rediff’s marketplace were through mobile; $3.47M loss in Q1-FY15

Around 23% of transactions on Rediff’s e-commerce marketplace were done through mobile phones, the company has disclosed in its earnings results for the quarter ended June 30, 2014.

Rediff mentions that its take rate i.e. the fees earned as a percentage of product value transacted was at 27% while its product margin is 14% and its customer return rate is 11%.

The company however hasn’t disclosed any specific information on the financial performance of its e-commerce business, although it notes that its revenue stream is now gradually shifting away from advertising and is increasingly driven by revenues from its e-commerce marketplace and subscription revenues from its enterprise email and collaboration services.

In the previous quarter, Rediff had mentioned that e-commerce revenues had surpassed display advertising revenues for the first time in the company’s history.

Financials

Overall, Rediff.com has reported a net loss of $3.47 million for the quarter ended June 30, 2014, a significant increase from $1.87 million in the same quarter last year. Operationally, this is Rediff’s 26th straight loss making quarter.

Total revenues however remained nearly flat at $4.08 million for the quarter, as compared to $4.11 million. The company however noted that on rupee terms, the revenues grew by 6% for the quarter. This was driven by a 49% increase (58% in Rupee terms) in its fee-based income which grew to $1.49 million for the quarter, offset by a 26% decline (21% in Rupee terms) in its advertising revenues to $1.62 million. 

The company’s India online revenues remained nearly flat at $3.38 million from $3.37 million in the same quarter last year, however its US publishing revenues continues to slide, posting net revenues of $0.70 million for the quarter, down from $0.74 million in the same quarter last year.

ReadPress Release

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