Brightcom Group stock hits lower circuit after ‘strong’ Q1 results

New Delhi, August 21 (IANS) Brightcom Group stock was locked in at the lower circuit on Monday even after what the company claimed were strong first quarter results.

Brightcom Group shares were trading at Rs 24.14, down 5 per cent on the BSE.

Brightcom Group, the AdTech major, said it has put forward strong first quarter results for the quarter ended June 30.

The company reported a strong quarter ended June 30, 2023 with consolidated revenues of Rs1,690.32 crore and PAT of Rs 321.47 crore for Q1 FY23-24.

Consolidated revenues for Q1 rose by 14.16 per cent Y-o-Y and PAT for Q1 rose by 15.96 per cent Y-o-Y.

Notably, EBITDA for Q1 also rose by 14.49 per cent Y-o-Y.

The EPS is 1.59 for Q1 2023-24 compared to1.37 in Q1 2022-23, about 16 per cent increase.

The company's Return on Equity (ROE), calculated on an annualised basis, is approximately around 17.6 per cent.

--IANS

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