Brightcom Group registered 168 per cent growth in consolidated net profit at ₹371 crore for the quarter ended December 31, 2021, against ₹139 crore in the same period last year.

The company’s board declared a 2:3 bonus shares to reward its shareholders. The move will not only improve liquidity but also help unlock value of the company.

The consolidated revenues witnessed a growth of 130 per cent at ₹2,021 crore during the quarter under review compared with ₹878 crore in the same period last year.

EBITDA rose 126 per cent to ₹578 crore due to better cost management and higher yields.

“The overall performance was impressive owing to increased consumer usage of digital media and digital channels to conduct commerce across the world, post the pandemic. Filtering technologies across the industry have reached a steady-state, cutting down the spurious traffic, thereby contributing to higher eCPMs (effective cost per impression),” the company said in a press statement.

Brightcom provides comprehensive online or digital marketing services to direct marketers, brand advertisers and marketing agencies.

The target future cashflows for FY22 remains at ₹250 crore, and is slated to reach ₹500 crore by June 2022.

The outlook for the sector in which the company operates, remains extremely robust, with massive shift from traditional to digital advertising, aided by the pandemic. Newer phenomenon like metaverse and augmented reality act as force multipliers to an already snowballing trend in favour of adTech, it said.

The company is making progress in the audio advertising M&A opportunity, which is expected to add significantly to its capabilities and the financials in the coming quarters.

The company’s scrip closed at ₹163.75, down by 2.76 per cent on the BSE on Wednesday.

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