Red Gills help!!

I've got a tigerbarb which is not in a good condition.

He's got werid puffed up gills and like red bits coming out of the
bottom of his gills..like red circluar bits - am not sure if this is
his gills inflammed or some sort of bad growth and his fins keep
deterioating - I've tried medicating him with anti-fungal but did not
notice any change.

Does anyone know what this could be?