The Quint's operational revenue up 70% YoY in 9M FY22
The digital properties had nearly 16.43 million subscribers across various platforms at the end of Q3
Quint Digital Media Limited published its results for the nine months ended December 31, 2021 today. The operating revenues of the multi‑brand digital media and media–tech conglomerate for nine months witnessed YoY growth of 70% and stood at Rs 25 crore. The media company recorded robust quarterly revenues of over Rs 9.2 crore for Q3 for the pre-acquisition operations.
The Quint witnessed a robust Q3 FY22 with operating revenues at Rs 9.25 crore and EBDITA of Rs 3.78 Cr. On a nine-month basis, the revenues grew to over Rs 25 crore from Rs 14.5 crore over the same period during FY 21. During the same period, the EBITDA also witnessed a significant improvement to Rs 10.5 Cr+ from a loss.
The digital properties had nearly 16.43 million subscribers/followers across various platforms at the end of Q3. The audience footprint across the websites and digital platforms - including Facebook, Instagram, YouTube, Twitter, Snapchat etc, continued its strong momentum in the quarter.
The growth will continue to maintain momentum in Q4 for the much larger, post-consolidation operations. The Company has also completed the acquisition of identified stakes in the digital media and media-tech operations of Quintillion Business, Quintype Technologies, Spunklane Media and YKA Media.
The Board of Directors approved raising of fresh capital of an amount not exceeding Rs 125 crore by way of a rights issue. The proposed capital raise will go a long way in providing the necessary growth capital to the Company and further help to consolidate its leadership position among the new-age digital media and media-tech companies.
The objective of the proposed rights issue is to, inter alia, meet the Company’s growth plans, including but not limited to undertaking strategic initiatives, general corporate purposes and/or such other use of proceeds as may be permitted under the applicable laws.
Speaking on the financial results and completion of the acquisition, Ritu Kapur, Co-Promoter & Chief Executive Officer, Quint Digital, said, “With the acquisition of stakes in QBM, SMP, and YKA, Quint Digital is diversifying across demographics and geographies, bringing a larger community of readers and viewers into our fold. QBM’s acquisition has added the most valuable learnings in running a successful premium subscription platform as the world gets ready for a rapid growth of reader revenues. The expansion of audiences across various websites and new-age social media platforms, makes us way and away the largest pure play digital news and information group in the country. We have close to doubled our group revenue base, giving us size and clout in the digital media space.
