BWI: Ybrant Takes a Rs. 147 Crore Write Down in Q4 of FY2013

Press release from Business Wire India
Source: Ybrant Digital Limited
Friday, May 31, 2013 06:45 PM IST (01:15 PM GMT)
Editors: General: Consumer interest, Economy, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
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Ybrant Takes a Rs. 147 Crore Write Down in Q4 of FY2013


Hyderabad, Andhra Pradesh, India, Friday, May 31, 2013 -- (Business Wire India) -- Ybrant Digital Limited ('YBRANTDIGI' or the company), the leading global digital marketing company today announced its audited results for the year ending March 31, 2013.

Ybrant's board decided to write down receivables that were considered uncollectible, as well as some balance sheet items amounting to about Rs. 147 crores in the fourth quarter of FY2013. This impacted the consolidated profitability of the company significantly.

The Company posted annual revenue of Rs. 1601.05 crores and net profit of Rs. 50.99 crores against the previous year revenue of Rs. 1263.18 crores and net profit of Rs. 191.80 crores respectively. Revenue growth is about 27% compared to last year.

The details of the results can be viewed at the company's website www.ybrantdigital.com in the Investors' section.

About Ybrant Digital Limited:

Ybrant Digital offers Digital Marketing solutions to businesses, agencies, and online publishers worldwide. It connects Advertisers with their Audience across any form of digital media, using its massive local presence to deliver appropriate messages to the right audience, through the most relevant digital channels.

Founded in 2000 and headquartered in India, Ybrant Digital holds 20 offices worldwide, including US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia, and with representatives or partners in Spain, Greece and The Netherlands.

Ybrant Digital services leading brands including SAP, Porsche, Ford, UPS, Swissair, Chevrolet, 3M, Jeep, US Army, LaSalle and Lufthansa.

Besides proprietary media such as Lycos, Gamesville, getMedia in Latin America and several travel websites in Australia, Ybrant Digital partners with top global publishers such as Facebook, Google, MSN, Yahoo!, and Viacom, and assists over 140 top Ad Agencies including OMD, Carat, MediaCom, Group M, Quasar, Razorfish, Mindshare, Maxus, OmniCom and Oglivy, spread across Europe, the Americas and Asia.

With enormous reach, cross platform capabilities, and technology, Ybrant Digital can exploit the full capabilities of Digital Media, positioning itself as a leading entity in the new age of digital advertising, and make it the platform of choice for any advertiser looking to connect with its audience across digital media channels. For more information, visit: www.ybrantdigital.com.

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behavior of financial and digital marketing industry, and fluctuations in exchange rates; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.



CONTACT DETAILS
Rema Sujeeth, Ybrant Digital Limited, +91 (40) 45678925, rema@ybrantdigital.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY

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