Brightcom Q1 profit up 16%

Hyderabad The adtech major, Brightcom Group on Wednesday reported a strong first quarter results for the quarter ended June 30, 2023. The company registered consolidated revenue of Rs 1,690.32 crore, a y-o-y growth of 14.16 per cent, compared to Rs 1,480.61 crore in the same quarter of last fiscal. The profit after tax for Q1 FY23-24 stood at Rs 321.47 crore, an increase of 15.96 per cent, as against a PAT of Rs 277.24 crore in Q1 FY23.

The Board of Brightcom Group met on August 14, 2023, to take stock of the first quarter earnings of the company. The company said that the main drivers for the growth of revenue were its continued effort to build client reach across geographies, and introduction of new products such as ‘Audio Ads.’

On the demand side, this quarter, the company added three new Ad agencies, 12 new direct advertisers, four new newspaper relationships.

The company also informed that it is adapting to new trends and embracing the ongoing changes in mix of Performance versus CPM Ads. Brightcom announced its partnership with ‘LoopMe,’ putting it in a position to increase its reach and expertise in the field of digital advertising.