Mumbai: Quint Digital Media has published first quarter results for the period ended 30 June 2022. Quintype maintains strong growth in revenues; on a full year basis, revenues are likely to double over FY22.

As against Rs 9.22 crore in Q1 FY22, QDML recorded its consolidated total operating revenues at Rs 16.60+ crore, up 80 per cent over the previous year.

The consolidated losses witnessed a reduction of more than 35 per cent over the previous year. The transaction for the divestment of a 49 per cent stake in Quintillion Business Media is expected to be completed in Q2 FY23, which will lead to a further reduction in QBM’s losses attributable to QDML.

SAAS-based media-tech company, Quintype Technologies India, witnessed a 150+ per cent increase in revenues, standing at Rs 4.35 crore as against Rs 1.71 crore in the previous fiscal. It’s on track to achieve operational break-even in FY23.

The business news digital platform BQPRIME also continues the growth momentum; it recorded revenues of Rs 3.61 crore.

The completion of the divestment of 49 percent of QBM and the raising of up to Rs 125 crore through a rights issue will provide the company with significant cash reserves and boost overall profitability.

The audience footprint across the websites and digital platforms-including Facebook, Instagram, YouTube, Twitter, Snapchat, etc. and continued its strong momentum in the quarter.