Quint Digital Media recorded the highest annual revenue of Rs 35.55 crore for the fiscal year ended March 31, 2022. The company recorded growth of over 68% from revenue in fiscal year 21 of Rs 21.1 crore.
While expenses jumped to Rs 30.16 crore from Rs 23.16 crore, the company posted a net profit of Rs 4.8 crore from a net loss of Rs 1.85 crore.
During the quarter ended March 31, 2022, the Company completed the acquisition of identified interests in the digital media and media technology businesses of Quintillion Business, Quintype Technologies, Spunklane Media and YKA Media. The consolidated results for the year ended March 31, 2022 include the financial performance of said acquisitions.
Operating revenue for Q4 FY22 stood at Rs 10.31 crore compared to Rs 6.5 crore in Q4 FY21. Expenditure rose to Rs 8.8 crore from Rs 6.3 crore. The company’s net profit soared to Rs 1.3 crore from Rs 45 lakh.
QDML had acquired identified stakes in the digital media and media technology businesses of Quintillion Business Media, Quintype Technologies India Private Limited, Spunklane Media Private Limited and YKA Media Private Limited on January 19, 2022.
In accordance with the applicable accounting framework, QDML has consolidated the financial performance of the digital media and media technology businesses of Quintillion Business Media, Quintype Technologies India Private Limited, Spunklane Media Private Limited and YKA Media Private Limited.
On a consolidated basis, the company recorded total operating revenue of Rs 55 crore, witnessing a growth of more than 55% over the previous year. In addition, losses on a consolidated basis recorded a reduction of more than 58% compared to the previous year. The net loss decreased to Rs 25 crore from Rs 61 crore.
The board of Quint Digital, at its board meeting on March 1, 2022, had approved a share rights issue to raise up to SR 125 crore in fresh capital. QDML is working on finalizing the draft offer letter for submission to the Securities and Exchange Board of India.
The company entered into a franchise agreement for a period of 5 years and launched its overseas platform named “Quint World” on April 1, 2022.
Quint Digital and its wholly owned subsidiary, viz. Quintillion Media Limited has entered into definitive agreements with AMG Media Networks Limited for the sale of a 49% stake in Quintillion Business Media Limited (entity hosting the economic and financial information platform www.bqprime.com). Closing of the transaction is subject to customary closing conditions and approvals.
Quintype Technologies India Limited intends to enter into a master franchise agreement for the Middle East territory. The Arrangement is subject to the necessary approval of QDML shareholders.
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