VMPL
New Delhi [India], February 9: Vertoz Advertising Limited (NSE: VERTOZ), a leading Technology Platform Enterprise, is pleased to announce its outstanding financial performance for the third quarter and Nine months ending December 31, 2023.
In Q3 FY2024, Vertoz unveiled a robust performance, with consolidated revenue from operations reaching Rs. 55.23 Crores, marking a commendable 155.91% year-on-year increase from the previous year's revenue of 21.58 Crores. Moreover, the revenue surged by 46.67% quarter-on-quarter. The EBITDA stood at Rs. 6.05 Crores, reflecting a substantial 39.30% year-on-year rise with an EBITDA margin of 10.95%. Additionally, the Profit After Tax (PAT) amounted to Rs. 4.51 Crores, demonstrating a significant 40.75% year-on-year growth.
For the nine months ended FY2024, Vertoz recorded a consolidated revenue from operations of Rs. 126.80 Crores, showcasing an impressive 161.49% year-on-year increase. The EBITDA for this period stood at Rs. 16.57 Crores, marking a noteworthy 56.40% year-on-year growth. Furthermore, the PAT witnessed a substantial 90.11% year-on-year surge, reaching Rs. 13.18 Crores.
Commenting on the results, Hirenkumar Shah, Whole-time Director of Vertoz, stated, "I am happy to share that Vertoz continued to navigate the turbulent markets successfully during this quarter.
In Q3 FY24, our EBITDA and PAT experienced strong growth of 39.3% and 40.7% year-on-year, reaching Rs. 6.1 crores and Rs. 4.5 crores, respectively. This achievement underscores the strength of our core operations and dynamic market approach, a result of the hard work and collaboration among our Vertoz team members.
Furthermore, I am proud to share that Vertoz has been certified as a 'Great Place to Work'. This recognition reflects the ethos and culture of our team members, whose passion and commitment continue to drive our company forward.
I would like to thank all our shareholders, employees, and partners for their unwavering support and commitment. Together, I am confident that we will continue to achieve new heights of success and innovation."
Ashish Shah, Non-Executive Director of Vertoz, added, " This quarter has been quite eventful for us. The Company experienced an impressive increase in revenue, jumping by 155.9% to Rs. 55.2 crores compared to the same quarter last year. Through innovation, determination, and a steadfast commitment to excellence, we have achieved notable achievements.
Our performance is strengthened by strategic market expansions that maximize our key capabilities, fostering a diverse revenue mix and enhancing our resilience against market fluctuations.
Through our innovation-driven approach, we continue to set and achieve new milestones, with a resolve to push boundaries and create sustainable value for our stakeholders."
Vertoz:
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. Key Platforms include IngeniousPlex, IncrementX, Adzurite, and AdMozart.
For more information about Vertoz, please visit https://www.vertoz.com/.
For media inquiries, please contact:
Richa Chikara
Lead Corporate Communication
Email: richa.chikara@vertoz.com
Phone: +91 22 61426067 / +1 (646) 895 6969
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