Brightcom Group Announces Strong FY 2022-23
Brightcom Group, the AdTech and Digital Media major, has announced its audited financial results for the quarter ended 31st March, 2023 and the annual results for financial year 2022-23. The Board of Brightcom Group reported a robust year, with consolidated revenues of Rs.7396.77crores and PAT of Rs.1370.99 crores for FY2022-23. Consolidated revenues increased 47.36% YOY and PAT rose 50.30% YOY. The EBITDA also rose by 43.96% YOY. Company's Return on Equity (ROE), on an annualized basis has reached nearly 19.58%. The ROE is unleveraged, because the group has zero debt on standalone and consolidated basis and it continues to focus on improving this key ratio. In addition, it achieved operating free cash flow of approximately Rs. 436.76 crores. The main drivers of revenue were client relationship fostered over the years. Improved client satisfaction leading to new client acquisitions. Presence in new geographic locations, especially Europe. Digitalization is going up. The AdTech Industry is growing. Adding new products to get higher wallet share of new clients. Additionally, during the year, it has added about: 260 Global Agency Relationships. 15 New Advertising Agencies. 630 Direct Advertisers. 650+ large Publishers. 50,000+ long-tail Publishers. The above development in turn led to better eCPMs for Brightcom. B-Local Exchange and Brightcom Video player, both New Product Technology Introductions, have started contributing significantly to the overall business growth. 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 robust growth. On the inorganic growth front, we have been working out the most effective structure to enable faster & ROE focused growth for our company. We are extremely focused on being highly capital efficient and are calibrating our inorganic growth strategy to get most bang for our buck. Appropriate announcements shall be made when inorganic transactions are considered or consummated.
Tags : Brightcom Group AdTech and Digital Media financial results Board of Brightcom Group revenue company return on equity debt client relationship Europe digitalization industry growing development