Correcting and Replacing: Rediff.Com Reports Results for the

Mumbai, Maharashtra, India, Tuesday, July 30, 2013 -- (Business Wire India) 
Rediff.com, one of the premier online providers of news, information,
communication, entertainment and shopping services to Indians worldwide, today
announced results for its first quarter ended June 30, 2013. 
The Company reported overall revenues for the 2013 first fiscal quarter of $4.11
million, a 12% increase as compared to $3.67 million reported in the 2012 first
fiscal quarter.  
For the three months ended June 30, 2013, the Company reported revenues from
India Online of $3.37 million, an increase of approximately 21% over the
corresponding quarter last fiscal year. Total India revenue, which includes
online advertising revenues of $2.19 million and fee-based revenues of $1.18
million, increased approximately 14% and 27%, respectively as compared to the
three months ended June 30, 2012. Within India fee-based revenue, fees from
Online Marketplace grew 78%. Offsetting this growth were lower sales from the
U.S. Publishing business, as the Company reported sales of $0.74 million as
compared to $0.88 million for the comparable 2013 and 2012 fiscal first
quarters. 
“Amidst continued challenging economic conditions and the pressures of a
weakening Rupee vs. the U.S. dollar, we have maintained a strong market presence
throughout India and have seen many of our newer initiatives grow; particularly
our online and local TV advertising business, as well as in Online Marketplace
and Enterprises Email,” said Ajit Balakrishnan, Chairman and Chief Executive
Officer of Rediff.com. 
Mr. Balakrishnan added “Our gross margins this quarter were 44%, compared to
32% for the same quarter last fiscal year. Additionally, in our Online
Marketplace business, we successfully maintained a 12% positive product margin
for the quarter and we continue to add vendors and SKU's to our offering. I
believe our concentrated efforts on conserving cash will take us a step closer
towards profitability, especially as our margins increase and our top-line
grows.” 
The Company reported an Operating EBITDA loss of $1.47 million for the quarter
ended June 30, 2013 as compared to an Operating EBITDA loss of $2.27 million in
the comparable year-ago period.  
Further details of Rediff.com's results for the first fiscal quarter ended June
30, 2013 are appended in tabular form to this press release. A script of the
earnings results conference call held on July 30, 2013 will also be made
available on Rediff's Investor Information website at investor.rediff.com. 
About Rediff.com 
Rediff.com (NASDAQ: REDF) is one of the premier worldwide online providers of
news, information, communication, entertainment and shopping services to Indians
worldwide. Founded in 1996, Rediff.com is headquartered in Mumbai, India with
offices in New Delhi, India and New York, USA. 
Safe Harbor 
Except for historical information and discussions contained herein, statements
included in this release may constitute "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and reflect our current
expectations. Forward-looking statements are identified by certain words or
phrases such as "may", "will", "aim", "will likely result", "believe", "expect",
"will continue", "anticipate", "estimate", "intend", "plan", "contemplate",
"seek to", "future", "objective", "goal", "project", "should", "will pursue" and
similar expressions or variations or negatives of such expressions. These
statements involve a number of risks, uncertainties and other factors that could
cause actual results to differ materially from those that may be projected by
these forward-looking statements. These risks and uncertainties include but are
not limited to the slowdown in economies worldwide and in the sectors in which
our clients are based, the slowdown in Internet and IT sectors worldwide,
competition, the success of our past and future acquisitions, attracting,
recruiting and retaining highly skilled employees, technology, acceptance of new
products and services, the development of broadband Internet and 3G networks in
India, legal and regulatory policies, managing risks associated with customer
products and the widespread acceptance of the Internet as well as other risks
detailed in the annual report on Form 20-F and other reports filed by Rediff.com
India Limited with the U.S. Securities and Exchange Commission. Rediff.com India
Limited and its subsidiaries may, from time to time, make additional written and
oral forward-looking statements, including statements contained in the Company's
filings with the U.S. Securities and Exchange Commission and our reports to
shareholders. Rediff.com India Limited does not undertake to update any
forward-looking statement that may be made from time to time by or on behalf of
the Company. 
TABLES FOLLOW 
STATEMENT OF OPERATIONS QUARTER ENDED JUNE 30, 2013 
Non-GAAP Measures Note 
Operating EBITDA and non-GAAP operating expenses are the non-GAAP measures in
this press release. These measurements are not recognized under generally
accepted accounting principles (“GAAP”). 
Operating EBITDA represents loss from operations prior to adjustments for
depreciation/ amortization, non-recurring items and other income or expense and
tax. However, other companies may calculate operating EBITDA differently.
Operating EBITDA is not intended to represent cash flows as defined by generally
accepted accounting principles and should not be considered as an indicator of
cash flow from operations. We have included information concerning Operating
EBITDA in this press release because management and our board of directors use
it as a measure of our performance. In addition, future investment and capital
allocation decisions are based on Operating EBITDA. Investors and industry
analysts use Operating EBITDA to measure the Company's performance compared to
historic results and our peer group. The reconciliation between Operating EBITDA
and net loss, the GAAP measure, is as follows: 
RECONCILIATION FROM OPERATING EBITDA TO NET INCOME QUARTER ENDED JUNE 30, 2013 
Non-GAAP operating expenses represent our operating expenses comprised of sales
and marketing, product development and general and administrative expenses
excluding depreciation and amortization. We have used non-GAAP operating
expenses measure to compute our Operating EBITDA. A reconciliation of GAAP
operating expenses to non-GAAP operating expenses is as follows: 
RECONCILIATION FROM GAAP TO NON-GAAP OPERATING EXPENSES QUARTER ENDED JUNE 30,
2013 
To view the attachments, please click on the link given below: 
STATEMENT OF OPERATIONS QUARTER ENDED JUNE 30, 2013 
RECONCILIATION FROM OPERATING EBITDA TO NET INCOME QUARTER ENDED JUNE 30, 2013 
RECONCILIATION FROM GAAP TO NON-GAAP OPERATING EXPENSES QUARTER ENDED JUNE 30,
2013 
Media contact details 
Mandar Narvekar, Investor Relations and Corporate Affairs Contact,
Rediff.com India Ltd,
+91 (22) 61820000,
investor@rediff.co.in 
Glenn Wiener,
GW Communications (U.S.A.),
212.786.6011,
gwiener@GWCco.com 
Jay Morakis,
GW Communications (U.S.A.),
212.786.6037,
jmorakis@GWCco.com 
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-0- Jul/31/2013 05:09 GMT