Brightcom Group posts 51 pc jump in profit
Nov 13, 2022
Hyderabad (Telangana) [India], November 13 : AdTech and Digital Media Brightcom Group on Sunday posted a jump of 51 per cent in its profit after tax to Rs 320.68 crore for the quarter ended September, against Rs 212.15 crore in the year-ago period.
The Hyderabad-headquartered firm said its revenues grew 52.48 per cent to Rs 1,683.07 crore on a year-on-year basis. The company also said operating profit or Ebitda also rose 45.07 per cent YoY.
In a statement to the stock exchanges, the company said it was working on improving market share in the US and EU markets. On the demand side, it said five new advertising agencies, 16 new direct advertisers, seven new newspaper relationships for 'B-local' exchange our news platform. The company also said it was increasing the overall publisher network, thus enhancing the access to a larger Internet traffic.
The stocks of the company were trading 5.31 per cent up at Rs 36.70 apiece on Friday whereas its shares went up 7.78 per cent in the past five days.
The small-cap company, which is engaged in providing digital marketing services, and development of computer software and services, has a market capitalisation of Rs 7,265 crore. The company had declared that its revenue jumped 74.4 per cent in FY22 to Rs 5,017.37 crore. It said this had resulted in an 88.8 per cent rise in net income to Rs 912.21 crore, the highest ever.
The Brightcom Group is a digital marketing company founded in 2000 and headquartered in Hyderabad, India with offices in US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia, and with representatives or partners in Poland, and Italy. It ranked 400th in the Fortune India 500 list in 2020.
