Raghav Bahl’s Quint Digital Media Limited has turned profitable for the full year ending March 31, 2022. The company recorded a standalone profit of Rs 4.8 crore as compared with the losses of Rs 1.8 crore in FY21.
The company’s standalone revenues on a full-year basis were at Rs 35 crore, up 68% YoY from Rs 21 crore in the previous year.
On a consolidated basis, which includes subsidiaries Quintillion Media and Quintillion Business Media, the company posted a loss of Rs 25 crore. The company had posted a loss of Rs 60 crore a year ago.
The consolidated revenue of the company stood at Rs 56 crore in FY22, up 55% from Rs 35 crore in the previous year.
The company in a statutory filing on Monday said that it has entered into a Franchisee Agreement for a period of 5 years and launched its overseas platform named as ‘Quint World’ w.e.f. April 1, 2022.
The company said that its subsidiary Quintype Technologies India Limited intends to enter into a master franchisee arrangement for Middle East Territory.
QDML and its wholly-owned subsidiary Quintillion Media Limited have entered into definitive agreements with AMG Media Networks Limited for the sale of 49% stake in Quintillion Business Media Limited (entity housing the business and financial news platform viz. www.bqprime.com). The closing of the transaction is subject to customary closing conditions and approvals.
