Brightcom Q1 net up 4% to Rs 105.5 crore

Hyderabad: City-based Brightcom Group, a digital marketing company, reported a net profit of Rs 105.5 crore for the first quarter ending June 2021, thus registering a year-on-year growth of 4.11 per cent.

The company's consolidated revenue was Rs 654.05 crore for the quarter under review, representing a growth of 2.27 per cent from the same period a year ago.

The revenues from digital marketing segment for the quarter reached Rs 566.07 crore with a 7.89 per cent increase from last fiscal year. The profit before tax was Rs 142.79 crore, showing an increase of 3.18 per cent Y-o-Y. The consolidated earnings per share (EPS) stood at Rs 2.08.

Meanwhile, the company appointed a new head for its publisher acquisition team. It launched B-local Exchange, which is an Ad Exchange specifically centered around online news media for the US geography. The company is now the new MCM partner of Google Advertising.

Further, Brightcom's Consumer Products Division is focusing on IoT segment. "Our LIFE product is dedicated to the future of communication and information management in which everyday objects will be connected to the internet, also known as the 'Internet of Things (IoT),' the company said in a statement.

On the targeted acquisition, the company said that EY was conducting financial and accounting diligence. 'Their business seems to be growing as the diligence is in process", the company said.