Ybrant Digital Q2 net falls 3%; to raise funds for expansion

MUMBAI: Global digital marketing company Ybrant Digital Limited reported a 3.11 per cent fall in its net profit in the second quarter ended 30 September on increase in expenses.

The company‘s net profit for the second quarter was Rs 502.1 million, down from Rs 518.2 million a year earlier.

The fall in profit margin has been attributed to a 36.3 per cent rise in expenditure in the second quarter to Rs 3.45 billion from Rs 2.52 billion a year earlier, largely contributed by increase in employee benefit cost, software purchase expenses and general administrative expenses to Rs 1.84 billion from Rs 1.25 billion a year earlier.

Ybrant‘s revenue in the second quarter was Rs 4.25 billion, 37.86 per cent more than Rs 3.08 billion a year earlier.

The company‘s revenue for the first six months of the year was Rs 8.06 billion, up 38.84 per cent from Rs 5.80 billion a year earlier. Its net profit in the first half of the year was Rs 1.1 billion, up 15.07 per cent from Rs 954.5 a year earlier.

The company said, "The Board has discussed and considered the proposal to raise funds via QIP/FCCB/PIPE to meet the expansion plans of the company. We have constituted a sub-committee to facilitate the process including appointment of bankers, legal counsels and other advisors."

Latest Reads
Google invests $550 million in Chinese e-commerce company

MUMBAI: American multinational technology company, Google, is all set to invest $550 million in China’s second largest e-commerce company The move comes as part of the technology giant’s effort to expand its presence in fast growing Asian market. Under the agreement, Google will receive 27...

MAM Marketing Brands
UC Browser’s Miss Cricket Campaign Makes Debut on billboard at New York Times Square

After almost 2 months of fierce competition, UC Miss Cricket Contest, an exciting campaign from UC Browser, has come to an end, with the winner Nishi Singh featuring on a billboard at New York Times Square. The 21-year old new rising star has also received cash prize of Rs 10 lakh, while the first...

MAM Media and Advertising Ad Campaigns
Audi CEO Rupert Stadler arrested

German automobile company Audi’s CEO Rupert Stadler has been arrested on suspicion of fraud. The arrest has been made in connection with Audi’s parent company Volkswagen’s role in emissionsgate (dieselgate)

MAM Media and Advertising People
Unilever to cut ties with digital influencers

While brands continue to engage in paid promotions through influencer marketing, consumer goods giant Unilever's had enough. The world's second biggest advertiser has decided to stop this practice to promote its products. Companies tend to rely on influencers to generate a buzz around their...

MAM Marketing Brands
Anita Mookerjee joins Lodestar UM as head for South business

Media and marketing company, Lodestar UM has appointed Anita Devraj Mookerjee as the head for South India business.

MAM Media and Advertising People
Bombay Dyeing eyes 20-30% revenue from e-commerce by 2021

MUMBAI: A customised bed sheet with an image of your favourite travel destination, family or just a picture that you clicked. Sounds fancy? Well, bath and bedding company Bombay Dyeing has launched a new campaign to target the millennial consumer where they can upload an image on the company’s...

MAM Marketing Brands
Brand Factory captures the essence of Mumbai through a musical rap

MUMBAI: Fashion discount chain, Brand Factory has used the magic of music to describe the city and the spirit of ‘Mumbaikars’.

MAM Media and Advertising Ad Campaigns
Indigo paints signs MS Dhoni as ambassador

MUMBAI: Decorative paint manufacturers, Indigo Paints, has signed MS Dhoni as brand ambassador.

MAM Marketing Brands
Viacom18 hands Digi Osmosis digital mandate for Manto

MUMBAI: Viacom 18 Motion Pictures has partnered with Digi Osmosis for digital marketing of their upcoming movie ‘Manto’ starring Nawazuddin Siddiqui.

MAM Media and Advertising Account

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories