Rediff.com's net losses (post-foreign exchange gain and tax) stand at $0.82 million, up from $ 0.11 million in September 2000.

Addressing analysts on a conference call, Mr Ajit Balakrishnan, chairman of Rediff.com said the company hopes to reach break-even by October-December 2000.

Rediffmail subscribers have increased by 94 per cent to touch 4.08 million as of December 31 2000 and page-views for the quarter ended December 31, 2000 stood at 670 million, an increase of 69 per cent over the last quarter. Giving details of the revenue break-up, company officials said that advertising had accounted for 84.6 per cent of net revenues, while services had accounted for 6 per cent and marketplace revenues had accounted for 9.4 per cent. The company added one channel partner - Planetsaffron.com this quarter and has announced the acquisition of US-based portal ThinkIndia.com.

Mr Balakrishnan also said that 58 per cent of the company's advertising revenues this quarter have been generated through long-term contracts. The portal has also signed agreements with clients like Compaq, Bharat Petroleum, Aptech and HMV to sell their products and services on Rediff.com.Commeting on the outlook for advertising revenues, Mr Balakrishnan said, "the potential of Internet advertising is just being realised by Old Economy companies in India, some of whom have begun to set aside advertising budgets for the Internet".