Brightcom Group, the AdTech major, has put forward strong first quarter results for the financial year 2023.
The Board of Brightcom Group met on 13th August, 2022, to take stock of the first quarter earnings of the company. The Revenues have surged forward by 126.38% YOY and PAT rising 162.66% YOY.
- Brightcom reported a strong quarter, with consolidated revenues of Rs. 1480.61 crores and PAT of Rs. 277.24 crores for Q1 FY22-23.
- Consolidated revenues rose 126.38% YOY and PAT to 162.66% YOY. Notably, EBITDA also rose by 121.90% YOY.
- Company’s Return on Equity (ROE), on an annualized basis has nearly reached 20%.
- Brightcom’s ROE is unleveraged, because the group has zero debt on standalone and consolidated basis.
- Operating free cash flow of approximately Rs. 492 crores in the last two quarters.
- The company’s consolidated tax rate across all geographies in this quarter was 28.29%.
The main drivers of revenue were:
- Sequential Growth in the number of new Advertisers online.
- On the demand side, this quarter, the company added 6 new Ad agencies, 14 new direct advertisers , 12 new newspaper relationships for our local news platform ‘Blocal’ exchange.
- The relaunched Compass has been optimizing client’s Ad spend across media formats.
- New Berlin office is getting well into the rhythm of the overall organization’s working and core principles.
- The above developments in turn led to better eCPMs for Brightcom.
- B-local Exchange and Brightcom Video player, both New Product Technology Introductions, have started contributing significantly to the overall business growth.