Ybrant Digital has reported digital marketing revenues of Rs 219.6 crore for the quarter ending September 30, 2012, up 18.4% from Rs 185.5 crore in the previous quarter and up 51.2% from Rs 145.2 crore in the same quarter last year. Net profit for the segment stood at Rs 54.34 crore for the quarter, up 26.87% from Rs 42.83 crore in the previous quarter and up 43.3% from Rs 37.91 crore in the same quarter last year.
The company also has a software development business which reported total revenues of Rs 205.33 crore for the quarter, up 5.4% from Rs 194.81 crore in the previous quarter and up 25.9% from Rs 163.07 crore in the same quarter last year. Overall, Ybrant Digital reported revenues of Rs 424.96 crore for the quarter, up 11.75% from Rs 380.29 crore in the previous quarter and up 37.86% from Rs 308.26 crore in the same quarter last year. Note that these revenues include the revenues from Ybrant Digital and its subsidiaries.
Previous Developments: In May 2012, Ybrant Digital had entered into an agreement to acquire PriceGrabber, LowerMyBills, and ClassesUSA.com from Experian for $175 million. As per the terms of the deal, Ybrant Digital was paying Experian $100 million in cash and the rest $75 million in a “loan note”. The acquisition was expected to close within the first half of the ongoing fiscal year, however the company noted in September 2012 that the proposed deal could not completed within the committed timeline and it is currently working on the same. There is no further update on the deal at the time of writing this article.
In July 2012, Ybrant Digital had listed its company in the Bombay Stock Exchange (BSE), following the approval of Ybrant Digital – LGS Global merger by the Andhra Pradesh government in May 2012. The company had stated that the combined entity will be referred to as ‘Ybrant Digital Limited’, as per the scheme, effective from June 14, 2012.
In August 2012, Ybrant Digital raised Rs 210 crore for business expansion, which includes Rs 110 crore from Experian in exchange for 2.29% company stake and Rs 100 crore in openly convertible loans from ICICI Bank and Credit Suisse.
Download – Financials