Brightcom Q3 net up 168% at Rs 371 crore

Hyderabad: Hyderabad-based adtech company Brightcom Group reported its consolidated revenues rising 130.08 per cent year-on-year (YoY) at Rs 2,021 crore, and the net profit rising 167.99 per cent at Rs 371 crore YoY, for the third quarter of the current fiscal. The overall performance was supported by the increased consumer usage of digital media and digital […]

Hyderabad: Hyderabad-based adtech company Brightcom Group reported its consolidated revenues rising 130.08 per cent year-on-year (YoY) at Rs 2,021 crore, and the net profit rising 167.99 per cent at Rs 371 crore YoY, for the third quarter of the current fiscal.

The overall performance was supported by the increased consumer usage of digital media and digital channels to conduct commerce across the world, post the pandemic. Filtering technologies across the industry have reached a steady state, cutting down the spurious traffic, thereby contributing to higher eCPMs (effective Cost per Impression).

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The company declared an issue of bonus shares in the ratio 2:3, meaning for every three shares owned, two bonus shares will be issued. The move will not only improve liquidity but also unlock the value of the company, Brightcom said in a statement.

The target future cashflows for FY22 remains at Rs 250 crore and is slated to reach Rs 500 crore by June quarter of 2022 (Q1 FY23). Improving free cash generation is a key financial target for the management, the company said.

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