Digital marketing revenues for Ybrant Digital were Rs 185.5 crore for the quarter ended June 30th 2012 (Q1-FY13), up 31.46% year on year from Rs 141.08 crore, and 18.7 percent quarter on quarter from Rs 156.3 crore. Net profit for the segment was Rs 42.83 crore, up 16.67% year on year and 34.39% quarter on quarter.
This is the first results announcement from the company, after it acquired BSE listed LS Global, and renamed it Ybrant Digital; the report includes combined accounts for LS Global and Ybrant Digital (albeit unaudited) to reflect the performance of the combined businesses, to enable comparison.
The combined entities also have a software development business. Overall, Ybrant Digital reported revenues of Rs 381.13 crore for the quarter, up 39.9 percent year on year, and 4.89 percent quarter on quarter. Profits, at Rs 69.59 crore, were up 21.28% quarter on quarter and 58.92% year on year.
Ybrant recently announced that it is selling 2.29% stake to Experian for Rs 110 Crore, and raising another Rs 100 crore in openly convertible loans from ICICI Bank and Credit Suisse, to fund its expansion plans. Ybrant had acquired a few properties – PriceGrabber, LowerMyBills, and ClassesUSA.com – from Experian for $175 million, and has made several international acquisitions over the last couple of years. Details here.
We’ll update in case we get more operational info from Ybrant.
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