Quint Digital Media recorded total operating revenues of INR 18.47+ crore for Q3 of FY23, witnessing a growth of 26pc+ over the previous year (consolidated operating revenues stood at INR 14.65 crore in Q3 FY22).
Quintype, the SAAS-based media-tech company, witnessed a 100pc+ increase in revenues to INR 5.41 crore (against INR 2.70 crore in Q3 FY22). Nine-month revenues (ended 31 December 2022) stand at INR 14.98 crore, an increase of about 135pc over the nine months.
The losses on a consolidated basis (attributable to QDML; net of non-controlling interest) witnessed a reduction of 23pc for the nine-month period ended 31 December 2022 (over the same period in FY22). The transaction for divestment of a 49pc stake in BQPRIME is expected to be completed in Q4 FY23, which will lead to a further reduction in the losses attributable to QDML.
The Company has successfully completed the Rights Issue and raised INR 125 crore from shareholders. The Rights Issue received 1.21X bids demonstrating the trust reposed by shareholders in the Company and its management.
Divestment of a 49pc stake in BQPRIME is expected to be completed in Q4 FY23; will further bolster the cash reserves and boost overall profitability.
The audience footprint across the websites and digital platforms, including Facebook, Instagram, YouTube, Twitter, Snapchat etc., continued its strong momentum in the quarter. Page views have witnessed a growth of 14pc+ over the same period during FY22. Further, the digital properties had nearly 21.94 million subscribers/followers across various platforms at the end of Q3 FY23.
