Quint Digital Media Limited posts a 80% rise in revenue to Rs 16.60 crore in Q1 FY23

QDML’s losses contracted by 35% to Rs 5.24 crore

Quint Digital Media Limited posts a 80% rise in revenue to Rs 16.60 crore in Q1 FY23
As per the company, THE QUINT maintained its strong momentum during Q1 as it posted over 50% rise in EBIDTA to Rs 3.62 crore.

Quint Digital Media Limited (QDML) posted an 80% rise in total operating revenues to Rs 16.60 crore in Q1 FY23 as opposed to Rs 9.22 crores in Q1 FY22. Meanwhile, the company’s losses contracted by 35% to Rs 5.24 crore This quarter when compared to last fiscal’s first quarter where the loss stood at Rs 8.10 crore, as per the BSE filings.

The company stated that Quintype Technologies India Limited, the SAAS based media-tech company, witnessed a 150% increase in revenue to Rs 4.35 crores (against Rs 1.71 crore in Q1 FY22). As per the company, the arm is on the path to achieve operational break-even in FY23. Similarly, QDML’s business news digital platform viz. BQPRIME also continued the growth momentum as the platform posted a rise of 50.9% to Rs 3.61 crore as opposed to Rs 1.77 crore in Q1 FY22.

Meanwhile, THE QUINT recorded a 60% rise to Rs 10.36 crores in operating revenues for Q1 FY23 when compared to Q1 FY22 where the revenue was Rs 6.39 crore, as per BSE filings.

As per the company, THE QUINT maintained its strong momentum during Q1 as it posted over 50% rise in EBIDTA to Rs 3.62 crore, PAT increased by 63% over Q1 FY22 to Rs 80 lakhs as opposed to Rs 49 lakhs last quarter. It expects the momentum to stay strong for the fiscal.

The transaction for divestment of 49% stake in Quintillion Business Media Limited is expected to be completed in Q2 FY23, which will lead to a further reduction in QBM’s losses attributable to QDML. As per the filing, closure of divestment of 49% stake in QBM and raising of up to Rs 125 crores via rights issue will provide the company with significant cash reserves and further boost overall profitability.

Also Read: Enormous Brands strengthens its leadership teams at Mumbai and Delhi offices

Follow us on TwitterInstagramLinkedIn, Facebook

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos