While that does not help Rediff's earnings on May 16th, it is one of those risky stocks that could make you a quick 10%. Of course it could also lose you a quick 10% as well, but I find that unlikely.
Given that the company had a couple of bad quarters with lower EPS, keep in mind that it is sill growing revenues by 50%. That being said, the stock has some risk to it, so risk averse investors are better off staying away from it. If risk is your thing though, I would buy it ahead of earnings.
Full Disclosure: I do not own any REDF but my position can change anytime without notice.
REDF 1-yr chart: