Ybrant Digital has reported digital marketing revenues of Rs 341.13 crore for the quarter ended June 30, 2014, registering a 21.63% growth from Rs 280.46 crore in the same quarter last year and a 14.6% growth quarter-on-quarter (QoQ).
The net profit from the segment also increased significantly to Rs 119.82 crore for the quarter, up 71.4% from Rs 69.92 crore profit in the same quarter last year. On a sequential basis, the profit grew by 56.6% from Rs 76.52 crore profit in the previous quarter.
The contribution of digital marketing revenues continues to increase for Ybrant Digital, with the segment accounting for 74.8% of the company’s consolidated revenues for the quarter, which was at Rs 456.26 crore. This is up from 70.1% in the same quarter last year and 73.03% in the previous quarter.
Jobookit stake acquisition: During the quarter, Ybrant Digital had agreed to pick up a minority stake in the Israeli online recruitment company Jobookit through its Israeli subsidiary Ybrant Digital Israel for an undisclosed amount. In addition to this, the company has also inked an agreement to exclusively represent Jobookit and its affiliate websites as an online advertiser for the next 30 months.
Software Development revenues continues to decline
Revenues from the software development business however continues to decline. The segment posted revenues of Rs 115.14 crore for the quarter, down 3.97% from Rs 119.9 crore in the same quarter last year. On a sequential basis, it however grew by 4.64% from Rs 110.03 crore revenues in the previous quarter.
As a result, the contribution of software development to Ybrant Digital’s revenues also dropped to 25.2% for the quarter, from 29.95% in the same quarter last year and 26.97% in the previous quarter.
The segment posted a profit before tax of Rs 8.64 crore for the quarter, down 39.7% from Rs 12.07 crore profit before tax in the same quarter last year. In the previous quarter, it had posted a loss before tax of Rs 27.66 crore.
Financials: Overall, Ybrant Digital posted a net profit of Rs 83.54 crore for the quarter, up from Rs 35.14 crore in the same quarter last year. The total operational revenue was at Rs 456.26 crore, up from Rs 400.37 crore in the same quarter last year.