Brightcom Group reports strong results for Q2FY23

Brightcom Group (NSE: BCG | BSE: 532368), the AdTech and Digital Media major, has achieved great numbers in Q2 with about 50% growth from same quarter last year.

The Board of Brightcom Group met on 12th November, 2022, to take stock of the Q2 earnings of the company.

HIGHLIGHTS

- The company reported a strong quarter, with consolidated revenues of Rs. 1683.07 crores and PAT of Rs. 320.68 crores for Q2 FY22-23.

- Consolidated revenues rose 52.48% YOY and PAT rose 51.15 % YOY. Notably, EBITDA also rose by 45.07% YOY.

- The company's Return on Equity (ROE), on an annualized basis has nearly reached 20.74%. The focus continues to remain on improving this key metric.

- The company's consolidated tax rate across all geographies in this quarter was 27.79%

- Achieved operating cash flow of approximately Rs. 216.5 Crores in the last quarter.

- The main drivers of revenue were:

- Enhancing Client reach across various locations and businesses, through focused efforts by the teams.

- Working on improving market share in the US and EU markets.

- On the demand side, this quarter, the company added: 5 New Ad agencies, 16 new direct advertisers, 7 new newspaper relationships for 'B-local' exchange our news platform.

- Increasing the overall publisher network, thus enhancing the access to a larger Internet traffic.

- Globally, the changes in the competitive landscape of the digital AdTech market is making way for the midsize, nimbler players to ramp up their piece of the pie.

Shares of Brightcom Group Limited was last trading in BSE at Rs. 36.95 as compared to the previous close of Rs. 34.80. The total number of shares traded during the day was 2542451 in over 7835 trades.

The stock hit an intraday high of Rs. 37.90 and intraday low of 35.35. The net turnover during the day was Rs. 93556859.00.

Source : Equity Bulls

Keywords

BrightcomGroup INE425B01027 BCG Q2FY23 H1FY23 ResultUpdate