Quint Digital Media records 68% growth in FY22 revenue
The company has posted a net profit of Rs 4.8 crore
Quint Digital Media has recorded the highest ever full-year revenue of Rs 35.55 crore for the fiscal ended 31st March 2022. The company has registered a growth of over 68% vis-à-vis FY21 revenue of Rs 21.1 crore.
While the expenses jumped to Rs 30.16 crore compared to Rs 23.16 crore, the company posted a net profit of Rs 4.8 crore against a net loss of Rs 1.85 crore.
During the quarter ended March 31, 2022, the company 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 consolidated results for the full year ended March 31, 2022, include the financial performance of the said acquisitions.
Operating revenues for Q4 FY22 stood at Rs 10.31 crore compared to Rs 6.5 crore in Q4 FY21. Expenses rose to Rs 8.8 crore against Rs 6.3 crore. The company's net profit zoomed to Rs 1.3 crore from Rs 45 lakh.
QDML had acquired identified stakes in the digital media and media-tech operations of Quintillion Business Media, Quintype Technologies India Private Limited, Spunklane Media Private Limited, and YKA Media Private Limited on January 19, 2022.
In accordance with the applicable accounting framework, QDML has consolidated the financial performance of the digital media and media-tech operations of Quintillion Business Media, Quintype Technologies India Private Limited, Spunklane Media Private Limited, and YKA Media Private Limited.
On a consolidated basis, the company recorded total operating revenues of Rs 55 crore, witnessing a growth of 55+% over the previous year. Further, the losses on a consolidated basis witnessed a reduction of more than 58% over the previous year. The net loss shrank to Rs 25 crore from Rs 61 crore.
The Board of Directors of Quint Digital at its board meeting on March 1, 2022, had approved a rights issue of equity shares to raise up to RS 125 crore in fresh capital. QDML is working on finalizing the draft letter of offer for submission to the Securities and Exchange Board of India.
The company has entered into a Franchise Agreement for a period of 5 years and launched its overseas platform named ‘Quint World’ w.e.f April 1, 2022.
Quint Digital and its wholly-owned subsidiary viz. Quintillion Media Limited has entered into definitive agreements with AMG Media Networks Limited for the sale of a 49% stake in Quintillion Business Media Limited (entity housing the business and financial news platform viz. www.bqprime.com). The closing of the transaction is subject to customary closing conditions and approvals.
Quintype Technologies India Limited intends to enter into a master franchisee arrangement for Middle East Territory. The arrangement is subject to necessary approval from the shareholders of QDML.
