Vertoz Advertising Limited announces stellar FY2023 Results
Mumbai; May 2023: For the Financial Year ended March 31, 2023, Vertoz Advertising Limited registered a Consolidated Net Revenue of ₹ 82.81 crore, a growth of a staggering 99.01% over the preceding year. Consolidated Profit after Tax stood at₹ 11.04 crores, an increase of 80.98% over the previous year. The Standalone Net Revenue for the Financial Year ended March 31, 2023stood at ₹ 54.17 crore, registering a growth of 163.99% over the previous Financial Year, and the Standalone Profit after Tax stood at₹ 3.67 crore.
For the Fourth Quarter that ended March 31, 2023, Vertoz Advertising Limited registered a Consolidated Net Revenue of ₹ 34.32 crore, an an243.20% increase over the same quarter in the preceding year. Consolidated Profit After Tax of ₹ 4.10 crore, increased by 124.04% over the same period last year. While the Standalone Net Revenue for the Fourth Quarter ended March 31, 2023, of ₹ 18.54crore, a 225.83% increase over the same quarter in the preceding year.
Performance Highlights Q4FY23 (Consolidated)
- Record Revenues for Q4FY23 at Rs 34.32 crore, a growth of 59.04% QoQ and 243.20% YoY
- Operating profit for Q4FY23 stood at Rs 9.63 crore, a decrease of 7.23% QoQ and 84.48% YoY
- Record Profits After Tax at Rs 4.10 crore for the quarter, an increase of 28.13% QoQ and 124.04% YoY
- Profitability margins have decreased marginally from previous quarters
Performance Highlights FY23 (Consolidated)
- Record Revenues for FY23 at Rs 82.81 crore, a growth of 99.01% over FY22
- Operating profit for FY23 stood at Rs 33.35 crore, an increase of 64.61%over FY22
- Record Profit After Tax was Rs 11.04 crore, an increase of 80.98% when compared to FY22
Commenting on the results, Mr. Hirenkumar Shah, Whole-time Director of the Company stated, “The Company has delivered the best year ever in terms of revenues and bottom line. This year has truly been a remarkable year for us, we have initiated a merger with two companies which help us grow organically, and not to mention we also completed the branding overhaul of Vertoz.”
Giving his views on the company, Mr. Ashish Shah, Non-Executive Director of the Company said, “We are one of the leading companies domestically in our industry space and we bring in some of the best technologies for our clients worldwide. We remain optimistic about our growth going forward too.’
