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HomePoliticsQuint Digital Media Limited (QDML) records Rs 80.62+ crore revenue for FY23

Quint Digital Media Limited (QDML) records Rs 80.62+ crore revenue for FY23


Noida (Uttar Pradesh) [India], May 31: Quint Digital Media Limited (QDML) is India’s only pure-play, multi-brand, digital media, and media-tech company. QDML’s consolidated revenues for FY23 increased to Rs 80.62+ crores, witnessing a growth of 31+% over the same period in FY22 (Rs 61.55 crores).

The Quint’s standalone revenues for FY23 grew by a healthy 20% to Rs 44.72 crores; FY22 revenues stood at Rs 37.16 crores.

There was an increase in profitability and EBIDTA on a sequential and full-year basis in a tough economic environment.

Media-tech operations of Quintype continued their phenomenal growth; revenues increased by 150% to Rs 22.49 crores in FY23 (FY22 revenues stood at Rs 9 crores).

The company successfully completed the divestment of a 49% stake in BQ Prime to AMG Media for Rs 47.83 crores. Cash and cash equivalents as on 31 March 2023 stood at Rs 156+ crores.

The company successfully completed the Rights Issue and raised Rs 125 crores from shareholders. The Rights Issue received 1.21X bids, demonstrating the trust reposed by shareholders in the company and its management.

The audience footprint across the websites and digital platforms – including Facebook, Instagram, YouTube, Twitter, Snapchat etc. – continued its strong momentum. Page views witnessed a growth of over 39% over FY22. Further, the digital properties had nearly 23 million subscribers/followers across various platforms at the end of FY23.

The Quint won 7 awards from the World Association of News Publishers (WAN-IFRA) at the South Asian Digital Media Awards 2022, including the Champion Publisher of the Year Award. It also won several other prestigious recognitions at India Audio Summit and Awards 2023, afaqs! Vdnonxt Awards, and more.

(Disclaimer: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)

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Source: The Print

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