Revenue growth of 216% y-o-y | Profit (PAT) growth of 151% y-o-y
August 9, 2023: Vertoz Advertising Limited (NSE: VERTOZ), a Technology Platform Enterprise, today announced results for the first quarter ended June 30, 2023.
The Board Meeting was held on August 8, 2023, to consider the Q1 Financial Results.
In Q1 FY2024, Vertoz’s performance showcased robust results, with consolidated revenue from operations reaching Rs. 3499.75 Lakhs, marking an impressive 216% year-on-year increase compared to the Rs. 1106.73 Lakhs revenue in the same quarter of the previous year. The EBITDA for the quarter stood at Rs. 500.04 Lakhs, reflecting a significant 83% year-on-year growth. Notably, the company’s Profit After Tax (PAT) experienced a remarkable surge of 151% year-on-year, reaching Rs. 354.26 Lakhs, a substantial improvement from Rs. 141.22 Lakhs in Q1 of the previous year. These exceptional figures emphasize Vertoz’s effective operational strategies and its ability to capitalize on market opportunities, underlining its commitment to delivering value to stakeholders and solidifying its competitive position.
Key Financials (INR in Lakhs)
|Particulars||Q1 FY2024||Q1 FY2023||Y-o-Y%|
Commenting on the results, Hirenkumar Shah, Whole-time Director of Vertoz said, “We’ve achieved a significant 83% EBITDA increase, highlighting operational efficiency gains. This success reflects our dedication to process optimization and cost control. With a strong base, we’ll seize growth opportunities while maintaining disciplined operations. Utilizing technology and talent development, we target consistent EBITDA growth for enhanced shareholder value. Amidst current fiscal challenges, our strategy involves expansion, product innovation, and digital transformation, guided by core values and customer responsiveness, ensuring sustainable growth and success” he added.
Ashish Shah, Non-Executive Director, Vertoz said, “Our company has achieved remarkable revenue growth of 216% compared to the prior fiscal year, showcasing our robust core business and adaptive market approach. Our profitability, with a net profit surge of 151%, benefited from new market entries that leverage our strengths, ensuring diversified revenue streams and resilience against market shifts.”
Vertoz (NSEI: VERTOZ) empowers organizations to thrive in today’s digital landscape with proprietary new-age technology platforms for Digital Marketing, Advertising, and Monetization. Vertoz platforms cater to businesses, digital marketers, advertising agencies, digital publishers, and other technology companies. Our Key Platforms include IngeniousPlex, IncrementX, Adzurite & AdMozart.
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