Noida (Uttar Pradesh) [India], November 7: Quint Digital Limited (QDL) (QUINT, BSE 539515), India's leading multi-brand digital and media-tech group -- being the only new-age digital media and technology player listed on an Indian stock exchange -- published its standalone and consolidated results for the quarter and half year ended September 30, 2023.
Quint Digital Limited (QDL), Quintillion Media Limited ("QML") and Quintillion Business Media Limited ("QBML") entered into a binding share purchase agreement with AMG Media Networks Limited to divest the remaining 51 per cent stake in QBML for a sales consideration of Rs 52+ crores. The completion of the disinvestment of QBML will lead to de-consolidation of related losses, and the group will swing to consolidated profitability.
The Quint's standalone revenues for Q2FY24 grew by 11 per cent to Rs 13.06 crores; Q2FY23 revenues stood at Rs 11.79 crores. Quintype continued as the most lucrative sector for the group -- revenues increased by 30%+ to Rs 7 crores in Q2FY24; Q2FY23 revenues stood at 5.35 crores.
Consolidated revenues for H1FY24 stand at Rs 45.52 crores -- a growth of 17%+ over H1FY23.
The audience footprint across the websites and digital platforms -- including Facebook, Instagram, YouTube, Twitter, Snapchat etc. -- continued its strong momentum in the quarter. The digital properties had nearly 23+ million subscribers/followers across various platforms at the end of Q2FY24.
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