Brightcom Group stock zooms near 5% on achieving strong Q1FY23 numbers

16 Aug 2022 , 09:16 AM

Brightcom Group, the AdTech major, has delivered robust first quarter results for the financial year 2023. The Revenues have surged forward by 126.38% yoy and PAT rising 162.66% yoy.

Key Highlights:

• Brightcom reported a strong quarter, with consolidated revenues of Rs1480.61 crore and PAT of Rs277.24 crore for Q1 FY22-23.
• Consolidated revenues rose 126.38% YOY and PAT to 162.66% YOY. Notably, EBITDA also climbed 121.90% YOY. 
• Company’s Return on Equity (ROE), on an annualized basis has reached approx. 20%.
• Company has its focus on improving this key ratio. 
• In addition, as guided earlier, we achieved operating free cash flow of approximately Rs492 crore in the last two quarters.
• The company’s consolidated tax rate across all geographies in this quarter stood at 28.29%

“The outlook for our sector remains extremely affirmative. The above factors, combined with the overall growth in “Digital advertising media” and client focus by all the operating teams across the geographies helped deliver the strong growth and are in the process of meeting the future challenges of the industry”, the company said in a regulatory filing.

On Tuesday early morning trade, Brightcom Group was currently trading at Rs38.65 per share up by Rs1.8 or 4.88% from its previous closing of Rs36.85 per share on the BSE.