Ybrant Digital has reported digital marketing revenues of Rs 248.69 crores for the quarter ending December 31, 2012 (Q3-FY13).
The reported digital marketing revenues are up by 55.01% Rs 160.43 crores in the same quarter last year, and 13.23% from Rs 219.62 crore in the previous quarter ending September 30, 2012 and up by from. Net profit for the same period ending December 31, 2012 stood at 60.33 crores which is up by 20.15% from Rs 50.21 crores reported in the previous quarter ending September 30, 2012 and up by 11.92% from Rs 53.90 crores in the same quarter last year.
Ybrant’s software development business reported total revenues of Rs 175.07 crores which is down by 14.73% from Rs 205.33 crores in the previous quarter and down by 4.94% from Rs 184.17 crores in the same quarter last year. The overall revenues of Ybrant Digital was reported to be Rs 423.77 crores down by 0.28% from Rs 424.96 crores in the previous quarter and up by 22.97% from Rs 344.61 crores in the same quarter last year. These revenues include the revenues from Ybrant and its subsidiaries. Note that there was no operational information available in this quarter’s report.
In early 2012, Ybrant Digital was appointed by Microsoft India as its ad sales house in addition to AIDEM Ventures. In May 2012, Ybrant entered into an agreement with Experian for $175 million to acquire PriceGabber, LowerMyBills and ClassesUSA.com from them. In July 2012, Ybrant Digital was listed in the in the Bombay Stock Exchange. By August 2012, Ybrant Digital had also raised Rs210 crore of which Rs.110 crore was raised from Experian and the rest from ICICI Bank and Credit Issues as openly convertible loan. Although the acquisition of PriceGabber, LowerMyBills and ClassesUSA.com was expected to be closed in the first half of the current fiscal year, Ybrant Digital in September 2012 announced a delay in the process.