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CyberMedia announces quarterly results

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CIOL Bureau
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NEW DELHI, INDIA: CyberMedia Ltd, the largest specialty media house in South Asia, published its unaudited financial results for the quarter ended December 31, 2008.

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For the nine months ended December 31, 2008, the company's revenue rose to Rs 985.4 million from Rs 850.4 recorded in 2007-08.

The top-line of the company grew by 17 per cent though the margins were impacted by acquisitions, new media launches and diversification. However, measures have been initiated in Q3 to address profitability concerns, said a press release.

The company has continued its overall strategy of de-risking the business by expanding the media services business as well as reducing the dependence on print advertisements, said a press release.

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Media services now account for 49 per cent of the total turnover as against 34 per cent in the previous corresponding period. Print advertising business today amounts for 39 per cent of the total turnover as against 49 per cent in the previous corresponding period.

Though the slowdown in the Indian economy has affected the media business due to reduced media spends, the company has maintained its market share, the release added.

Since 2008-09 is expected to be under pressure due to the economic slowdown and global recession, the company has initiated cost control measures and organizational restructuring, which should result in an improved situation in 09-10, it said.

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