Rediff.com India Ltd Posts $2 Mn Net Loss

Mumbai: | Updated: Apr 30 2004, 05:30am hrs
Rediff.com India Ltd has posted a net loss of $2.1 million for the quarter ended March 31, 2004 while its while full year net loss stood at $5.7. The company said this included loss of $2.05 million for the quarter from discontinued operations due to the sale of ValuCom business in early April, 2004. It reported a positive operating EBITDA from continuing operations for the quarter ended March 31, 2004 of $105,000. This was achieved on the back of increased revenues from India Online operations, higher gross margins and lowering of operating expenses. For the full year, operating EBITDA loss totaled $2 million. Total revenues for the quarter stood at $2.6 million, primarily driven by increased revenues from India Online which posted a growth of 30 per cent over same quarter a year ago. Full year revenues totaled $9.5 million, a rise of 10 per cent over previous fiscal 2003.

Hinduja TMT Net Higher
Mumbai:
Hinduja TMT Ltd has posted a higher consolidated net profit of Rs 86.5 crore for the year ended March 31, 2004 as against Rs 58.3 crore for 2002-03. Total income for the reporting year rose to Rs 288.5 crore as against Rs 216.8 crore for FY03. On standalone basis, the net profit and total income for the fourth quarter ended March 2004 stood at Rs 15.5 crore (Rs 15.5 crore in Q4 of 2002-03) and Rs 40.8 crore (Rs 32.1 crore) respectively.

Emirates Net Spurts 74%
Emirates Airline has posted a 73.5 per cent increase in net profit at $429 million for the year ended March 31, 2003-2004 and revenue stood at $3.6 billion which was a 37 per cent increase from last year.