Rediff.com, one of India's Internet pioneers, has less money in the bank than some of the country's (relatively) recent ecommerce upstarts are spending in a month. The company reported that at the end of June 30th, 2015, it had $7.6M (around Rs 48.6 crore) in cash and cash equivalents, "which at the present rate should be enough to meet our requirements for six quarters". Cash reserves are down from $8.39 million last quarter, and $15.7 million a year ago. MediaNama had first flagged the declining cash reserves last year, where, with losses of around $3M, it appeared that Rediff didn't have more than four quarters of money left. Read: “You have the perfect liberty to sell our shares and move on from tomorrow”- Rediff CEO Total revenues for the company decreased 19.4% year on year to $3.29 million, down from $4.08 million in the same quarter last year. The company reported a loss of $1.75 million, which is almost half of the $3.48 million loss in the same quarter last year.Rediff's losses declined largely because it reported a significant 39.1% reduction in operating expenses down to $2.86 million from $4.7 million a year ago. Costs have been declining: last quarter, costs for Rediff were 30% down YoY. Rediff has been loss-making in 27 of the last 29 quarters. The company, yet again, didn't take questions on its earnings conference call. Q1 is a weak quarter Q1 has typically been weak quarter for Rediff, but this is the lowest it has reported, in terms of…
