Hyderabad, November 14, 2022: The Board of Brightcom Group met on 12th November 2022, to take stock of the Q2 earnings of the company.
THE HIGHLIGHTS
- The company reported a strong quarter, with consolidated revenues of Rs. 1683.07 crores and PAT of Rs. 320.68 crores for Q2 FY22-23.
- 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 drivers of revenue were:
– Enhancing Client reach across various locations and businesses, through focused efforts by the teams.
– Working on improving market share in the US and EU markets.
– On the demand side, this quarter, the company added: 5 New Ad agencies, 16 new direct advertisers, 7 new newspaper relationships for the ‘B-local’ exchange our news platform.
– Increasing the overall publisher network, thus enhancing access to larger Internet traffic.
- Globally, the changes in the competitive landscape of the digital AdTech market is making way for the midsize, nimbler players to ramp up their piece of the pie.
UPDATE
- Ezequiel Moschcovich Vice President of Business Development was at the DIGIDAY Summit in Miami, Florida from Sept 19th to 21st.
- Etai Eitany, CEO of Israel office, along with Roni Gelman and Daria Oshry of the Berlin office was in Cologne, Germany to be at the event DMEXCO in September as well.
- Maayan Bar, Head of Publisher Success, and others are currently in the US East Coast and West Coast to attract new business and add new publishers to the network.
- Brad Brittan was appointed as the Business Development Manager – Publishers in the Israeli office in September.
- Indian Office onboarded the first batch of 34 fresh software developers, after a rigorous recruitment process in November.
- Lava Yarimi is now the new Head of Operations for the Display Advertising Division of Brightcom in November.