Mumbai (Maharashtra) [India], February 10 (ANI/NewsReach): Vertoz Advertising Limited (NSE: VERTOZ), has achieved strong operating results for the Quarter ended December 31, 2022, both on a Standalone and Consolidated basis.
The Board Meeting was held on February 9, 2023, to consider the Financial Results.
Performance Highlights:
- Consolidated Revenues from operations were at Rs 2158.17 Lakhs during the Quarter that ended December 31, 2022, as against Rs 1224.74 Lakhs in the Quarter that ended December 31, 2021.
- Consolidated EBITDA is at Rs 470.95 Lakhs during the Quarter that ended December 31, 2022, as against Rs 320.02 Lakhs in the Quarter that ended December 31, 2021.
- Consolidated Profit after tax (PAT) was at Rs 320.22 Lakhs during the Quarter that ended December 31, 2022, as against Rs 176.20 during the Quarter that ended December 31, 2021.
- The Board of Directors of the Company at its Meeting held on 29th December 2022, has allotted 65,85,000 Share Warrants on Preferential basis.
Key Financials (INR in Lakhs except for EPS): [On Consolidated basis]
For the Nine Months that ended December 31st, 2022, Vertoz Advertising Limited registered a Consolidated Total Revenue of Rs 4,947.58 Lakhs, an 51.85 per cent increase over the Nine months ended December 31, 2021, in the preceding year. Consolidated Profit after Tax from continuing operations of Rs 693.30 Lakhs, increased by 62.14 per cent over the same period last year.
While the Standalone Total Revenue for the Nine months ended December 31, 2022, is Rs 3613.42 Lakhs, an 136.38 per cent increase over the preceding year's Nine Months ended December 31, 2022, and Standalone Profit after Tax from continuing operations of Rs 306.29 Lakhs, increased by 34.21 per cent over the same period last year.
For the Third Quarter that ended December 31, 2022, Vertoz Advertising Limited registered a Consolidated Total Revenue of Rs 2195.10 Lakhs, an 78.13 per cent increase over the same Quarter in the preceding year. Consolidated Profit after Tax from continuing operations of Rs 320.22 Lakhs, increased by 81.74 per cent over the same period last year. While the Standalone Total Revenue for the Third Quarter ended December 31, 2022, of Rs 1541.49 Lakhs, a 151.95 per cent increase over the same Quarter in the preceding year, and Standalone Profit after Tax from continuing operations of Rs 141.20 Lakhs, increased by 39.71 per cent over the same period last year.
Speaking on the occasion, Hirenkumar Shah, Whole-time Director of the Company stated: "We are thrilled to report record earnings for our company this quarter! This marks an incredible milestone for our team and is a testament to the hard work and dedication of our employees. We look forward to continuing to serve our stakeholders through delivering innovative technology and excellent customer service."
Also commenting on the results, Ashish Shah, Non-Executive Director of the Company stated: "We are incredibly proud of our Hybrid Model of Technology, Talent & Partnerships of our Digital Ecosystem has helped our customers to outperform in their return on ad spends across our various delivery models. Our Shareholders and Stakeholders should be assured that we remain dedicated to creating long-term sustainable value for them."
Vertoz (NSE: VERTOZ) is The Digital Ecosystem that empowers the Business Digital Journey. Vertoz's various business units help businesses with Data-Driven Marketing, Advertising & Monetization strategies while keeping the latest technology of Machine Learning (ML) and Artificial Intelligence (AI) at their core to optimize the whole process. Vertoz represents the entire fraternity of Marketing and Advertising technology through its various Strategic units.
For more information, contact:
Darshil Shah
Assistant Marketing Manager
Vertoz Advertising Limited
Email: (mailto:media@vertoz.com);
Tel: +91 022 6142 6030
Disclaimer:
Some of the statements, concerning our future growth prospects, in this communication, may be forward-looking statements within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections, etc., whether expressed or implied. These forward-looking statements are based on various assumptions, expectations, and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, ability to maintain and manage key customer relationships, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, war, pandemic, currency rate fluctuations, litigation among others over which the Company does not have any direct control. These factors may affect our ability to successfully implement our business strategy. The Company cannot, therefore, guarantee that the 'forward-looking' statements made herein shall be realized. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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