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CyberMedia net up 49 p.c for nine months period

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CIOL Bureau
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NEW DELHI: Specialty media publishing house CyberMedia Group's net profit shot up 49.2% from Rs 32.09 million to Rs 47.88 million for the nine months ended December 31, 2005. The company attributed this to higher sales and improved EBITDA margin, and lower interest due to improvement in working capital management.

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Announcing the financial results here, Pradeep Gupta, the managing director of CyberMedia Group, said that the first nine months of FY'06 had been as per the company's planned growth. “The financial performance of the company improved with profit margins on the rise even with new businesses being developed. In fact, the international launches are being rolled out ahead of schedule. These launches will impact operating margins over the next few quarters.”

However, Gupta added, “We are confident that with these new initiatives, the company will strengthen its long term position in the international markets.”

The company posted a 28 percent increase in net profit to Rs 17.68 million for the third quarter ended December 31, 2005, from Rs 13.84 million reported in the year-ago period.

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Gross income remained steady at Rs 219.47 million during the reporting quarter. EBITDA margins increased to 18 percent, mainly due to exit from low margin businesses.

During the reporting quarter, the EBITDA margin jumped to 17.8% from 14% in Q3 2004-05. EBITDA increased 27.1 percent to Rs 38.97 million from 30.66 million reported for the corresponding quarter the previous year.

The revenues from publishing business were reported to have increased 53.9 percent YoY to 156.53 million, while the research business brought in revenues of Rs 22.79 million, up 35.1 percent from the corresponding quarter a year ago.

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The Group's online business revenue showed a 30 percent increase YoY to Rs 11.83 million in Q3FY2005-'06.

During the last three months, the company has formed a joint venture with Expomedia Group PLC, a London-based B2B media group into venue management, conferences, publications and exhibitions.

CyberMedia has also launched the website, BioSpectrum.com, the Asian edition of BioSpectrum. The digital form of the publication is slated for a February launch, followed by the printed version in April this year.

According to the company, its international publication, Global Services will be launched at the CMP CyberMedia Global awards ceremony on February 2, 2006 in New York. The website of this publication was launched this month.

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