The Quint Digital Media has reported a total revenue of Rs 80.62 crore for FY23, up by 31% compared to the previous year’s consolidated revenues of Rs 61.55 crore.
In Q4FY23, the divestment of a 49% stake in BQ Prime was successfully completed, resulting in cash proceeds of Rs 47.83 crore.
This divestment was carried out as part of an investment agreement with the renowned Adani group, which had initiated investment discussions in the previous year. As a result of this arrangement, the Company diluted its 49% stake in Quintillion Business Media Limited in favour of AMG Media Networks Limited, a significant milestone in its pursuit of synergistic partnerships and growth-oriented collaborations,” said the company’s report.
As per the report, the company’s cash flows also soared to over Rs 156 crore for FY2023 and it posted a healthy 32.10% growth in net profit from Rs 482.67 lakh in FY22 to Rs 637.62 lakh in FY23. PAT Margins stood at a healthy 15.53%.
The report also mentioned that the average monthly page views for Quint Digital Media, which has a net worth of Rs 167.4 crore, were 21.8 million while 42.64 million were average monthly impressions with 75 % male and 25% female audience.
Impressions refer to the number of times a specific ad is served to a user. Pageviews refer to the number of times a user views a page.
“In FY 2022-23, your company generated Rs 4,104.52 lakhs in revenue with a net margin of 15.53%. Your Company’s business is profitable despite the absence of legacy content available to conventional media companies. In addition, Your Company has a net worth of Rs 16,743.48 lakhs, a zero net-debt position, a sound balance sheet, and a wide range of revenue streams. The transaction for the sale of a 49% stake in BQPRIME has been closed in FY 2022-23,” said The Quint’s Founder/Director Raghav Bahl.
Depreciation and amortization expense of the company grew from Rs 8.9 crore to Rs 11.7 crore. Total expenses grew YoY from Rs 82.9 crores to Rs 105.5 crores in FY23.
The company’s expenses on content subscription and royalty went up from Rs 2.7 crores to Rs 4.2 crores. Its marketing and advertising expenses went up from Rs 9 crore in FY22 to Rs 11.3 crores in FY23.
Subscription charges for the company went up from Rs 5.7 crore to Rs 6.5 crores.
According to the company’s annual report for FY2023, Quintype, the SAAS-based media-tech company, experienced a 150% surge in revenues, reaching Rs 22.49 Crores in FY23 (compared to Rs 9.01 Crores in FY22).
In Q4 FY23 alone, revenues soared to Rs 7.34 Crores, showing a staggering 200% increase over Q4FY22’s Rs 2.40 Crores. Quintype also reduced its losses by an impressive 57% on a full-year basis.