QDML rebrands itself as Quint Digital

Quint Digital Media Limited (QDML) rebranded itself as a pure-play digital company — to be renamed Quint Digital Limited, in order to resonate better with the vision, strategy, and digital focus of the Group. In line with the digital vision, the Company entered into a joint venture to foray into the area of artificial intelligence. 

The Group entered into a binding MoU with AMG Media to divest the remaining 51% stake in Quintillion Business Media Limited. The transaction with AMG Media is restricted only to Quintillion Business Media Limited and does not involve any transaction with QDML, that is, there is no investment in The Quint or Quintype (owned by QDML) by AMG Media.

Quint Digital Media, a multi-brand digital media and media-tech group in India, announced its first-quarter results for FY24 on August 14, 2023.

With the objective of fueling its inorganic growth strategy across digital and media tech operations, the company gained approval to raise up to INR 250 crores through a Qualified Institutional Placement (QIP).

During Q1 FY24, The Quint reported standalone revenues of INR 13.20 crores, marking an impressive growth of 23% from Q1 FY23's INR 10.72 crores. Quintype continued its upward trajectory with a remarkable 48% growth in revenues, reaching INR 6.45 crores in Q1 FY24 compared to INR 4.73 crores in Q1 FY23.

Reflecting a consolidated growth of 15%+ over Q1 FY23, Quint Digital Media reported consolidated revenues of INR 21.82 crores for Q1 FY24. Notably, the company exhibited a solid financial position with net cash and cash equivalents amounting to over INR 157 crores as of June 30, 2023.

A strategic restructuring saw Quintillion Media, a wholly owned subsidiary, merging with QDML to streamline the group's organizational structure.

On the audience front, Quint Digital Media maintained its strong momentum across websites and digital platforms, boasting nearly 23+ million subscribers and followers across platforms such as Facebook, Instagram, YouTube, Twitter, and Snapchat by the end of Q1 FY24.

The Quint continued to garner recognition for its exceptional content, winning fifteen awards across various categories at the esteemed afaqs! Digipub Awards 2023. The multimedia immersive project 'Islamophobia 365: Lynchings and Beyond' was also acknowledged as a finalist at the 25th edition of the Society of Publishers in Asia (SOPA) Awards 2023, further underscoring Quint Digital Media's commitment to impactful storytelling.