Quint Digital Media published its standalone and consolidated results for the quarter and half year ended September 30, 2022.
The Quint maintains a strong momentum during Q2; expects business momentum to be strong in Q3 of FY23 as well.
The total revenues for Q2 FY23 (September 22) stood at Rs 11.79 Crs; growth of 8%+ on a quarter on quarter basis. The EBIDTA increased by over 50 pc to Rs 5.54 Crs (Q1 FY23 at Rs 3.62 Crs). PAT increased by 150 pc over Q1 FY23. The Total revenues for H1 FY23 (September 2022) stood at Rs 22.51 Crs vs 16.91 Crs for H1 FY22 (September 2021). EBIDTA witnessed a growth of over 30 pc to Rs 9.15 Crs (H1 FY22 at INR 6.86 Crs). PAT increased by over 20 pc to Rs 2.83 Crs.
QDML recorded total operating revenues of Rs 19.73 +Crs, witnessing a growth of 37+% over the previous year (consolidated operating revenues stood at Rs 14.39 Crs in Q2 FY22).Quintype, the SAAS based media-tech company, witnessed a 160 pc + increase in revenues to Rs 5.21 Crs (against INR 1.97 Crs in Q1 of FY22). Half yearly revenues stand at Rs 9.57 Crs, an increase of ~160 pc over H1 FY22.
The losses on a consolidated basis (attributable to QDML; net of non-controlling interest) witnessed a reduction of more than 25 pc over the previous year. The transaction for divestment of 49 pc stake in BQPRIME is expected to be completed in Q3 FY23, which will lead to a further reduction in the losses attributable to QDML.
The Company expects to complete the rights issue in Q3 FY23; the rights issue proceeds and consideration on divestment of 49 pc stake in BQPRIME will provide the Company with significant cash reserves and further boost overall profitability.
