Quint Digital Media Limited (QUINT, BSE 539515), India’s main multi-brand digital media and media-tech group — being the one new-age digital media and know-how participant listed on an Indian inventory alternate — printed its standalone and consolidated outcomes for Q1 FY24 on 14 August 2023.
Quint Digital Media Limited (QDML) rebranded itself as a pure-play digital firm — to be renamed Quint Digital Limited, with the intention to resonate higher with the imaginative and prescient, technique, and digital focus of the Group. In line with the digital imaginative and prescient, the Company entered right into a three way partnership to foray into the realm of synthetic intelligence.
The Group entered right into a binding MoU with AMG Media to divest the remaining 51% stake in Quintillion Business Media Limited. The transaction with AMG Media is restricted solely to Quintillion Business Media Limited and doesn’t contain any transaction with QDML, that’s, there isn’t a funding in The Quint or Quintype (owned by QDML) by AMG Media.
The Company authorized elevating as much as INR 250 crores by way of a QIP — fund will probably be deployed on the inorganic progress technique of the digital and media tech operations of the group.
The Quint’s standalone revenues for Q1 FY24 grew by a wholesome 23% to INR 13.20 crores; Q1 FY23 revenues stood at INR 10.72 crores. Quintype continued its progress momentum; revenues elevated by 48% to INR 6.45 crores in Q1 FY24; Q1 FY23 revenues stood at INR 4.73 crores.
Consolidated revenues for Q1 FY24 stood at INR 21.82 crores — a progress of 15%+ over Q1 FY23. The Group’s internet money and money equivalents stood at INR 157+ crores as on 30 June 2023.
Quintillion Media, a completely owned subsidiary, to merge with QDML to rationalize the group construction.
The viewers footprint throughout the web sites and digital platforms — together with Facebook, Instagram, YouTube, Twitter, Snapchat and many others. — continued its sturdy momentum; the digital properties had practically 23+ million subscribers/followers throughout varied platforms on the finish of Q1 FY24.
The Quint gained fifteen awards throughout classes on the prestigious afaqs! Digipub Awards 2023, and its multimedia immersive ‘Islamophobia 365: Lynchings and Beyond’ was a finalist on the twenty fifth version of the Society of Publishers in Asia (SOPA) Awards 2023.