Quint Digital Media Limited posts 80% increase in revenue to Rs 16.60 crore in Q1 FY23
Quint Digital Media Limited (QDML) reported an 80% increase in total operating revenue to Rs 16.60 crore in the first quarter of FY23 from Rs 9.22 crore in the first quarter of FY23. fiscal 22. Meanwhile, the company’s losses contracted by 35% to Rs 5.24 crore this quarter compared to the first quarter of the previous fiscal year when the loss stood at Rs 8.10 crore, according to BSE deposits.
The company said Quintype Technologies India Limited, the SAAS-based multimedia technology company, recorded a 150% increase in revenue to Rs 4.35 crore (from Rs 1.71 crore in the first quarter of FY22). ). According to the company, the arm is on track to reach operational break-even point in FY23. Likewise, QDML’s digital business intelligence platform viz. BQPRIME also continued its growth momentum, with the platform growing by 50.9% to Rs 3.61 crore from Rs 1.77 crore in Q1 FY22.
Meanwhile, THE QUINT recorded a 60% increase to Rs 10.36 crore in operating revenue for the first quarter of FY23 compared to the first quarter of FY22 where revenue was Rs 6. .39 crores, according to documents filed by the BSE.
According to the company, THE QUINT maintained its strong momentum during the first quarter by posting an increase of more than 50% in EBIDTA to Rs 3.62 crore, PAT increased by 63% compared to the first quarter of the year. 22 at Rs 80 lakhs vs. Rs 49 lakhs last quarter. He expects momentum to remain strong for the exercise.
The transaction to sell the 49% stake in Quintillion Business Media Limited is expected to be completed in the second quarter of FY23, which will further reduce QBM’s losses attributable to QDML. According to the filing, the closing of the sale of the 49% stake in QBM and the raising of up to Rs 125 crore via the rights issue will provide the company with significant cash reserves and further increase overall profitability.
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