Hyderabad, 17th August 2023: Brightcom Group (NSE: BCG | BSE: 532368), the AdTech major, has put forward strong first-quarter results for the quarter ending June 30, 2023. The Board of Brightcom Group met on 14th August, 2023, to take stock of the first quarter earnings of the company.
THE HIGHLIGHTS
- The company reported a strong quarter ended June 30, 2023 with consolidated revenues of Rs. 1690.32 crores (Rs. 1,480.61 crores for QE June 30, 2022) and PAT of Rs. 321.47 crores for Q1 FY23-24 (Rs.277.24 crores for Q1 FY 22-23).
- Consolidated revenues for Q1 rose by 14.16%Y-o-Y and PAT for Q1 rose by 15.96% Y-o-Y. Notably, EBITDA for Q1 also rose by 14.49% Y-o-Y (Rs.518.19 crores for Q1 FY 2023-24 compared to Rs.452.65 crores for FY 2022-23).
- The EPS is 1.59 for Q1 2023-24 compared to1.37 in Q1 2022-23, about 16% increase.
- The company’s Return on Equity(ROE), calculated on an annualised basis, is approximately around 17.6%.
- The company’s consolidated tax rate across all geographies in this quarter was 27.89%.
- We have achieved operating cash flow of approximately Rs.148.48 crores in the last quarter.
The Main Drivers of Revenue were:
- Continuing to build Client Reach across Geographies.
- The introduction of new products such as ‘Audio Ads’.
- On the demand side, this quarter, the company added:-
3 New Ad agencies, 12 new direct advertisers, 4 new newspaper relationships: for ‘Blocal’ exchange – our news platform.
- Adapting to new trends and embracing the ongoing changes in the mix of Performance vs CPM Ads.
- The company announced the successful partnership with ‘LoopMe’ (https://loopme.com/), putting Brightcom Group in a position to increase its reach and expertise in the field of digital advertising and once again fortify its position in the industry.
- In order to accelerate business growth synergistically and drive APAC as an epicenter of future business growth, we have begun efforts to establish a significant office presence in key Asia Pacific hubs, such as Kuala Lumpur or Hong Kong, and to look for strategic partnerships with compatible associates in the region.
UPDATE
- Etai Eitany and Roni Gelman to attend DMEXCO2023 (https://dmexco.com/) in Cologne, in September.
- We are attending the DIGIDAY Publishing Summit (https://digiday.com/digiday-publishing-summit-september-2023- in event/) in Miami this September with Ezequiel Moschcovich, VP Business Development, and Assaf Sassoon, Head of Sales.
- Introducing our newest senior additions, David Ben-Dov and Inbar Levy in Ad Operations in Israel.
- Ms. Neha Pamnani, a practicing company secretary, was appointed as the Secretarial Auditor of the Company for the financial year 2022–23.
- Introduction of the planning process of SLRP(strategic long-range planning) at intervals of 6 or 12 months. Peshwa Acharya, President -Group Strategy, and Narayana Raju, CFO to set this process in motion.
CONFERENCE CALL DETAILS
Brightcom Group will host a conference call on August 20th, 2023, Sunday at 4.00PM Indian Standard Time to discuss the financial results. Call-in details will be available from the Investor Relations page of the company’s website at: http://brightcomgroup.com/investors/