Brightcom Group Ltd’s share surged 5% on Thursday to reach an intraday high of ₹ 19.60 apiece from the previous close price of ₹ 18.70. The company has a market capitalization of ₹ 3,956 crores. Today’s stock price has increased as an outcome of the company’s recent release of positive Q4 earnings.
Brightcom earned a net profit of ₹ 1,370 crore in FY 22-23, rising by a whopping 50% YoY. Revenue also saw robust growth of 47% YoY from ₹ 5,019 in FY22 to ₹ 7,396 in FY23
The Ace investor Shankar Sharma holds 25,000,000 shares in the firm as of the March 2023 quarter, equivalent to 1.24 percent.
Brightcom Group Ltd was Incorporated in 2010. The company is engaged in digital marketing solutions for businesses, agencies, and online publishers globally.
According to the standalone financials of the company, its net profit increased by 2935 percent to ₹ 4.25 crore in Q4FY23 from ₹ 0.14 crore in Q4FY22. Further, revenue from operations increased by 13 percent to ₹ 106 crore from ₹ 94 crore in the corresponding quarter last year.
On a YoY comparison of the metrics, the revenues significantly improved from ₹ 366 crores during FY 21-22 to ₹ 433 crores in FY 22-23. Similarly, for the same timeframe, The PAT numbers increased by 800%, from ₹ 1 crore to ₹ 9 crore. The debt-to-equity ratio stood at 0.07 for FY23.
The stock is down 33.33 percent year-to-date (YTD) and 67.87 percent year-on-year (YOY). In contrast to the previous month, the stock climbed by around 109 percent from 9.80 to the current price level.
However, investors must be cautious before investing in this stock as charges of regulatory non-compliance are still open, Market regulator SEBI issued the show-cause notice on April 13th, 2023. After identifying discrepancies in the books of accounts and other evidence relating to the company’s overseas subsidiaries, it was determined that Rs 868.30 crore worth of the company’s assets were impaired in FY20.
As per the shareholding pattern, promoters of the company hold an 18.48 percent stake, and foreign institutional investors (FIIs) hold a 15.79 percent stake in the company for FY 22-23.
Written by Omkar C
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