Quint Digital Media Limited- the multi‑brand digital media and media–tech conglomerate published its results for the nine months ended December 31, 2021 on February 7. 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 Quint witnessed a robust Q3 FY22 (December 21) with operating revenues at Rs 9.25 crore and EBITDA of Rs 3.78 crore. On a nine months basis, the revenue grew to 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 crore + from a loss.
On January 19, 2022, QDML has duly completed the acquisition of identified stakes in the digital media and media-tech operations of Quintillion Business Media Private Limited, Quintype Technologies India Private Limited, Spunklane Media Private Limited and YKA Media Private Limited.
Post the completion of the acquisition, QDML owns 100% stake in Quintillion Business Media Private Limited, 50.41% stake in Quintype Technologies India Private Limited, 47.92% stake in Spunklane Media Private Limited, and 34.6% stake in YKA Media Private Limited.
The Board of Directors approved a rights issue to raise up to Rs 125 Cr to fund future growth.
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.”