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CyberMedia Q3 net up 44.5 p.c. YoY

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CIOL Bureau
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NEW DELHI: CyberMedia India Ltd, South Asia’s largest specialty media house has recorded an increase of 44.5 per cent to Rs 2.55 crore in its net profits for the third quarter ended December 31, 2006 from Rs 1.77 crore recorded during the same period last year.

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For the third quarter 2006-`07, the company posted a total income of Rs 28.7 crore, up 30.8 per cent from Rs 21.95 crore reported during the year-ago period.

For the nine-month period ended December 31, CyberMedia has recorded 26.5 per cent year-on-year increase in total income to Rs 74.21 crore from Rs 58.67 crore from the corresponding period last year.

Riding on Rs 10,000-12,000 per page increase in revenue realization due to lower discounting buoyancy of print ad spends, especially in the specialty media segment, revenues from publishing business went up by 27.1 per cent to Rs 51.46 crore. Revenue from Internet business increased 36.5 per cent to Rs 5.21 crore. Community event based revenues rose 44.4 per cent to Rs. 9.1 million from Rs. 6.3 million and revenues from events business showed went up by 22.3 per cent to Rs 27 million.

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During the nine-month period, the company recorded an increase of 21.8 per cent in EBITDA to Rs 11.85 crore from Rs 9.72 crore due to increased revenues and economies of scale. Net Profit of the company showed an increase of 21.5 per cent to Rs 5.82 crore from Rs 4.79 crore.

During the period the company acquired 49 per cent stake in Publication Services, Inc. (PSI), to front-end its content outsourcing business in the US. PSI, with a 50-member strong team and FY'06 revenue of $ 2.7 million, provides wide range of book and document production services for publishers. Its repertoire of clients includes McGraw-Hill, Cambridge University Press, Harvard University Press, Elsevier Science, John Wiley & Sons and Oxford University Press among others.

During the quarter, the group launched a new magazine, the Voice and Data Connect in December 2006 focusing on telecom channels and solution providers for mobile phones. The group organized the first Biospectrum event in Singapore last month. It also organized the BioSpectrum Awards Nite, the largest biotechnology gathering with participation from over 300 CEO. Kapil Sibal, minister of Science and Technology, inaugurated this event.

During the quarter, CyberMedia has tied-up with Bihar government for organizing events.

© CyberMedia News

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