Mumbai: Cyber Media & Research Ltd (CMRSL), a publicly listed digital marketing company, has announced its Q2 results for FY 2023-24, unveiling an impressive financial performance for the second quarter of the fiscal year 2023-24. With a strong focus on digital marketing, data analytics, and programmatic solutions, CMRSL has positioned itself as an emerging player in the industry
For Q2 FY 2023-24, CMRSL reported revenue of ₹25.53 crore compared to ₹13.77 crore in the same period of FY 2022-23, showcasing an exceptional YoY growth of 85.3 per cent. Boasting a remarkable growth of 40.4% QoQ, the company has expanded its portfolio by acquiring new clients and agencies, which notably include Sify Technology, Cisco, Tata Teleservices, RepublicTV, and University18, among others.
CMRSL’s EBITDA for Q2 FY 2023-24 was ₹1.36 Crore, as compared to ₹1.08 Crore for Q2 FY 2022-23, EBITDA grew by 5.9 per cent YoY, while PBT witnessed a robust 65.2 per cent YoY growth, reaching ₹1.84 Crore in the first half of the current fiscal.
During the second quarter of this fiscal year, CMRSL has strengthened its partnership with Google by being elevated to Google Certified Publishing Partner (GCPP) status. It has also signed up with AdTech partners like Nexxen, InMobi, Gamoshi, and E-Planning. CMRSL's impressive growth, strengthened partnerships, and strategic collaborations underscore its dynamic approach to navigating the ever-evolving market landscape.
CMRSL managing director Dhaval Gupta said, "Our Q2 FY 2023-24 results underscore our commitment to excellence and innovation in the digital marketing space. The remarkable revenue growth is a testament to our team's dedication and ability to navigate the dynamic market landscape.”
"Looking ahead, we are enthusiastic about the opportunities that lie before us. Our consistent growth trajectory and the expertise of our team position us well to continue delivering exceptional results. We remain focused on expanding our market reach, strengthening client relationships, and investing in cutting-edge technologies to ensure sustained growth in the digital marketing industry."
