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Ybrant Digital Marketing Revenues Up 28.3% YoY To Rs 281.87 Cr For Q2-FY14

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Ybrant Digital has reported digital marketing revenues of Rs 281.87 crore for the quarter ended September 30, 2013, registering a significant 28.34% increase from Rs 219.63 crore revenues in the same quarter last year and a minor 0.5% growth from Rs 280.46 crore revenues in the previous quarter.

The segment posted a profit before tax of Rs 62.92 crore for the quarter, up 15.8% from Rs 54.34 crore profit in the same quarter last year but down from Rs 69.9 crore profit in the previous quarter.

Ybrant Digital still generates a majority of its revenues from digital marketing, with the segment accounting for 70% of Ybrant Digital’s consolidated revenues for the quarter, a significant increase from 51.68% contribution in the same quarter last year but a slight dip from 70.1% contribution in the previous quarter.

Software Development Business Declines: The company’s software development business saw a minor dip year-on-year (YoY) in its profit before tax to Rs 16.46 crore for the quarter, down from Rs 16.49 crore profit in the same quarter last year but up 36.4% from Rs 12.07 crore profit in the previous quarter.

The segment however saw a significant decline in its revenues on a yearly basis to Rs 120.73 crore for the quarter, down 41.2% from Rs 205.34 crore in the same quarter last year but up from Rs 119.91 crore sequentially.

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The contribution of software development to Ybrant Digital’s consolidated revenues dropped to 30% for the quarter, from 48.32% in the same quarter last year but marginally up from 29.95% in the previous quarter.

New Singapore Office: During the quarter, Ybrant had strengthened (pdf) its presence in the APAC region by launching operations in Singapore and appointing Krishna Srinivas as its General Manager (Sales) for the APAC region.

The company had mentioned that its Asian business which was previously being managed out of Australia, will now be headquartered out of Singapore. It also plans to setup offices in each of the Asian markets with local teams over the next 6-12 months.

Financials: Overall, Ybrant Digital posted a net profit of Rs 57.76 crore for the quarter, up 15% from Rs 50.21 crore in Q2-FY13 but down from Rs 61.77 crore profit in the previous quarter.

The company however reported declined revenue of Rs 402.6 crore for the quarter, down 5.3% from Rs 424.96 crore in the same quarter last year but up from Rs 400.4 crore in the previous quarter.

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