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Brightcom Group Results: Latest Quarterly Results & Analysis

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Brightcom Group Ltd. 05 Feb 2023 21:50 PM
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Q3FY23 Quarterly Result Announced for Brightcom Group Ltd.

Internet & software service firm Brightcom Group announced Q3FY23 results:

  • Consolidated Q3FY23:
    • The company reported a strong quarter, with consolidated revenues of Rs 2,865.17 crore and PAT of Rs 543.93 crore for Q3FY23.
    • Revenues rose 42% YoY and PAT rose 46% YoY. Notably, EBITDA also rose by 43% YoY.
    • The company's Return on Equity (ROE), on an annualized basis has nearly reached 25.16%. The focus continues to remain on improving this key metric.
    • The company's consolidated tax rate across all geographies in this quarter was 27.10%
    • Achieved operating cash flow of approximately Rs 92.41 crore in the last quarter.
    • The main drivers of revenue were:
      • Seasonality of the Advertising business, the third quarter always contributes the most.
      • We worked both impression-based and performance-based significantly to get a larger market share this quarter.
      • On the demand side, this quarter, the company added: 7 new Ad agencies, 13 new direct advertisers, 2 new newspaper relationships for our local news platform 'Blocal' exchange.
      • Increasing the options to the publisher networks by offering optimum solutions between CPM, CPC, and CPA spending to maximize their revenues.
    • The combined overseas subsidiary dividend to be received by the Parent for this quarter stands at Rs 5.02 crore. It will be received before February 28, 2023, in actual cash remittance.
    • This marks the beginning of the monetization of Brightcom's years of efforts in building substantial overseas businesses. Most of the subsidiaries are now generating sufficient cash and are now able to pay out a portion of their profits as dividends to the Parent.

Result PDF

Result PDF

Internet software & services firm Brightcom Group announced Q2FY23 results:

  • The company reported a strong quarter, with consolidated revenues of Rs 1,683.07 crores and PAT of Rs 320.68 crores for Q2FY23.
  • 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 driver of revenue was:
    • Enhancing client reach across various locations and businesses, through focused efforts by the teams

 

Result PDF

Internet Software & Services firm Brightcom Group announced Q1FY23 Result :

  • Brightcom reported a strong quarter, with consolidated revenues of Rs. 1480.61 crores and PAT of Rs. 277.24 crores for Q1 FY22-23.
  • Consolidated revenues rose 126.38% YoY and PAT to 162.66% YoY. Notably, EBITDA also rose by 121.90% YoY.
  • Company's Return on Equity (ROE), on an annualized basis has nearly reached 20%.
  • Brightcom’s ROE is unleveraged, because the group has zero debt on standalone and consolidated basis.
  • We continue to focus on improving this key ratio.
  • In addition, as guided earlier, we achieved operating free cash flow of approximately Rs. 492 crores in the last two quarters
  • The company's consolidated tax rate across all geographies in this quarter was 28.29%.

 

Result PDF

 Internet Software & Services firm Brightcom Group declares Q4FY22 result:

  • The company reported a strong year, with Consolidated revenues of Rs. 5019 crores and PAT of Rs. 912.2 crores for FY22. Fourth quarter revenues were Rs. 1240 crores and PAT of Rs. 223 crores.
  • Consolidated revenues rising 75.8% YoY and PAT rising 88.86% YoY. Notably, EBITDA also rose to 69.78% YoY
  • Company's Return on Equity (ROE), on an annualized basis has reached 17.23 % approximately. We are focussed on improving this key ratio substantially.
  • We achieved an operating Free Cashflow of Rs 287 crores for the year FY22. We are looking to meet the 500 crores FCF mark by the end of the June quarter.
  • The Board has decided to payout a significant amount of Rs.60.54 crores as dividend, to reward its shareholders. This represents a dividend payout ratio of around 7%, which compares extremely favorably with global tech companies, such as Nvidia ( dividend payout ratio of around 4.5%) to Apple, which has a dividend payout ratio of around 14%.
  • Improving Free Cash generation is a critical financial target for management.
  • This quarter, the company added: - 28 new publishers - 7 new Ad agencies - 12 new direct advertisers - 10 new newspaper relationships for our local news platform 'Blocal' exchange.

 

Result PDF

IT Consulting & Software company Brightcom Group declares Q3FY22 result:

  • The company reported its best quarter this year, with the consolidated revenues rising 130.08 % YoY at Rs 2021 crore, and the PAT rising 167.99 % at Rs 371 crore YoY.
  • EBITDA rose 126.44% at Rs 578 crore due to better cost management and higher yields. 
  • A 2:3 Bonus shares has been declared to reward its shareholders.
  • The company's Return on Equity(ROE), on an annualized basis, has improved to 21.74 %approximately.
  • Value additions during the quarter: 43 new publishers; 12 new Ad agencies; 10 new direct advertisers; and 14 new newspaper relationships for local news platform ‘Blocal’ exchange.
  • The network traffic touched 90 Billion impressions by quarter end.

Result PDF

Highlights:

  • The company reported a strong quarter, with consolidated revenues rising 73% YoY and PAT rising 106% YoY.
  • The company's Return on Equity(ROE), on an annualized basis, has reached 16.45% approximately. We are focused on improving this key ratio substantially.
  • The company's consolidated tax rate across all geographies in this quarter was 27.06%.
  • The Revenues of Brightcom saw a surge by 73% at Rs 1103.86 crore in Q2FY22 as against Rs 639.66 crore in Q2 last year, owing to increased consumer usage of digital media and digital channels to conduct commerce across the world, post the pandemic. Higher online sales led to much better eCPMs ( effective Cost per Impression) for digital marketers.
  • The PAT for the quarter more than doubled to Rs 212.15 crores from Rs 103 crores in Q2 last year.
  • Filtering technologies across the industry have reached a steady-state, cutting down the spurious traffic. This has contributed to the improvement of eCPMs as well.
  •  On the demand side, Brightcom has direct relationships with over 200 Ad Agencies across the world. The Company’s network size has increased to more than 60 billion impressions a month.

 

Result PDF

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