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As on 16-Aug-2022  15:28

Brightcom Group gains after robust Q1 outcome
Revenue from operations surged 126.4% year on year to Rs 1,480.61 crore in the quarter ended 30 June 2022. The company said that the sequential growth in the number of new advertisers online has been a great driver of revenue.

Profit before tax soared 164.3% to Rs 386.65 in Q1 FY23 as compared to Rs 146.27 crore reported in Q1 FY22.

Total expenses increased by 115.2% year on year to Rs 1,090.81 crore in the quarter ended 30 June 2022. Cost of sales/services jumped nearly 131% to Rs 841.44 crore and employee benefits expense rose by 103.7% to Rs 80.96 crore in Q1 FY23 over Q1 FY22.

The digital marketing segment's revenue jumped 145% to Rs 1,386.3 crore while revenue from software development segment rose 7% to Rs 94.30 crore in Q1 FY23 over Q1 FY22.

“The outlook for our sector remains extremely positive, with the overall growth in digital advertising media and client focus by all our operating teams across the geographies helped deliver the robust growth and are in the process of meeting the future challenges of the industry”, the company said in a statement.

Brightcom Group is engaged in the business of digital marketing solutions to businesses, agencies and online publishers worldwide.

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