Brightcom Group reports a 51 percent increase in profit

AdTech and Digital Media Brightcom Group reported a 51% increase in profit after tax for the quarter ended in September compared to the same period a year earlier, coming in at Rs 320.68 crore on Sunday.

According to the Hyderabad-based company, year-over-year revenue growth was 52.48 percent, or Rs 1,683.07 crore. The business also reported a 45.07% YoY increase in operational profit, or Ebitda. The company stated in a statement to the stock exchanges that it was working to increase its market share in the US and EU markets. On the demand side, it stated that our news platform has agreements with five new advertising agencies, 16 new direct advertisers, and seven new newspapers.

The business added that it was expanding its publisher network overall to improve access to more Internet users.

The company’s shares increased 5.31% on Friday to Rs 36.70 per share, while they increased 7.78% over the previous five days.

With a market capitalization of Rs. 7,265 crore, the small-cap firm engages in the production of computer software and services in addition to offering digital marketing services. The company reported that their sales increased by 74.44% to Rs 5,017.37 crore in FY22. It claimed that, as a result, net income increased by 88.8% to a record-breaking Rs 912.21 crore.

The Brightcom Group is an international digital marketing company with offices in the US, Argentina, Brazil, Chile, Uruguay, Mexico, the UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia. It was founded in 2000 and has its headquarters in Hyderabad, India. Poland and Italy also have representatives or partners within the company. In 2020, it was listed 400th on the Fortune India 500 list.