Rediff.com has reported its revenues for the quarter ended 31 December 2006 at $7.75 million, up 54 per cent YoY. The company’s India online revenues for the quarter grew 80 per cent YoY to $5.69 million.  
  
Net income for the quarter was $1.51 million, or 5.20 cents per ADS, compared to a net income of $0.32 million, or 1.23 cents per ADS, for the quarter ended December 31, 2005.

Online advertising continues to drive growth for the company. Revenues from the India online advertising business grew by 103 per cent for the quarter ended 31 December 2006 compared to the same quarter in the prior fiscal year.

While Sify.com posted a net income of $0.94 million for the third quarter ended December 2006 as compared to $1.55 million in the previous quarter of the same fiscal and a net loss of $0.24 million recorded in the December 2005 ended quarter. Revenues increased by 15.8 per cent at $31.5 million as compared to $27.2 million in the quarter ended December 2005.

Its seems like the online advertising wave is minting the portals a lot of money! But will we see a shift in this with communities, social networks and blogging on the rise? Are these portals ready with web 2.0 tricks of their own that can retain and probably pull more audience? Only time will tell.

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