Quint Digital Media Q1 FY2023 consolidated revenue up 80% at Rs 16.60 cr

Quint Digital Media Ltd, India's leading multi‑brand digital media and media-techgroup, being the only new-age digital media and technology player listed on an Indian stock exchange, has published its standalone and consolidated results for the first quarter ended June 30, 2022.

The results for the quarter ended June 30, 2022, are the first full three-month consolidated results of the company post the acquisition of the digital media and media-tech operations inter-alia Quintype and Quintillion Business wef January 19, 2022.

The Quint has maintained strong momentum during Q1, the weakest business quarter in the financial year. Business momentum continues to be strong in Q2.

Highlights of the standalone financial performance:

• Standalone operating revenues for Q1 FY23 stood at Rs 10.30 cr+; Strong growth of 60%+ over Q1 FY22
• Standalone PAT jumps by 60%+ over Q1 FY22
• Consolidated revenues for Q1 FY23 increase to Rs 16.60 cr+; Jump of 80%+ over Q1 FY22
• EBIDTA witnesses a growth of 50%+ to Rs 3.62 cr (Q1 FY22 at Rs 2.36 cr)
• Quintype maintains strong growth in revenues; On a full year basis, revenues likely to double over FY22
• Draft letter of offer to raise up to Rs 125 cr via rights issue filed with SEBI

Consolidated Results

INR in Crore

Highlights of the consolidated financial performance:

On a consolidated basis, QDML recorded total operating revenues of Rs 16.60+ cr, witnessing a growth of 80+% over the previous year (consolidated operating revenues stood at Rs 9.22 cr in Q1 FY 22).

The losses on a consolidated basis (attributable to QDML; net of non-controlling interest) witnessed a reduction of more than 35% over the previous year. The transaction for divestment of 49% stake in Quintillion Business Media Limited is expected to be completed in Q2 FY 23, which will lead to a further reduction in QBM’s losses attributable to QDML.

Quintype Technologies India Limited, the SAAS based media-tech company, witnessed a 150%+ increase in revenues to Rs 4.35 cr (against Rs 1.71 cr in Q1 of FY22). It’s on the path to achieve operational break-even in FY23.

Business news digital platform viz. BQPRIME also continues the growth momentum; recorded revenues of Rs 3.61 cr (against Rs 1.77 cr in Q1 of FY22).

Closure of divestment of 49% stake in QBM and raising of up to Rs 125 cr via rights issue will provide the company with significant cash reserves and further boost overall profitability.

Highlights of the audience engagement matrix for The Quintplus Other Group Properties:

The audience footprint across the websites and digital platforms – including Facebook, Instagram, YouTube, Twitter, Snapchat, etc. – continued its strong momentum in the quarter. Some of the key data points, aggregated across the websites and digital platforms, are given below:

                                                                                                            Million

Source: based on data provided by platforms/ other agencies

*This number is not deduplicated since it's across various platforms

Page views have witnessed a growth of 53%+ over the same period during FY 22.  Further, the digital properties had nearly 21.6 million subscribers/ followers across various platforms at the end of Q1 FY 22.

Rights Issue

Pursuant to the approval granted by the Board of Directors at its meeting held on February 7, 2022, to raise up to Rs 125 crore by way of a rights issue, the company has filed the Draft Letter of Offer with SEBI.

As part of the Rights Issue, subject to receiving necessary approvals, including from SEBI and Rights Issue Committee, the company proposes to raise Rs 125 crore from its shareholders. The company expects the Rights Issue to open during the last fortnight of the second quarter, subject to obtaining necessary approvals, as applicable.

Other updates:

QDML and its wholly owned subsidiary viz. Quintillion Media Ltd had entered into definitive agreements with AMG Media Networks Ltd for the sale of 49% stake in Quintillion Business Media Ltd (entity housing the business and financial news platform viz. www.bqprime.com).

The shareholders vide Postal Ballot dated June 22, 2022 have granted necessary approvals to the transaction. The closure of the transaction is subject to customary closing conditions and is expected to close in Q2 FY23.

Quintype Technologies India Ltd has entered into a Master Franchise Agreement for Middle East Territory and is in the process of setting up/ operationalising a branch office in Dubai.