Quint Digital Limited has shut down its Hindi website and sold the “Quint Hindi” YouTube channel, including perpetual content licensing and other identified assets, for a total consideration of INR 39,52,326. In December 2024, the company disclosed to the exchanges that Quint Hindi operations would be discontinued on or before March 31, 2025. The website has now been discontinued as of Wednesday.
Quint Digital Limited first informed the regulator on June 15, 2024, about discontinuing its Hindi website, stating that the Quint would pivot entirely away from a commoditized news/video offering. In September, the company announced that the tenure of Quint Hindi had been extended for an additional three months, until December 31, 2024. In December 2024, the company reaffirmed to the exchanges that Quint Hindi operations would cease on or before March 31, 2025.
In its disclosure to the exchanges on June 15, 2024, Quint stated: “The Quint will pivot 100% toward enterprise articles/features/videos, written and produced by high-caliber journalists and experts. This original, high-quality content will be used to drive subscriptions and pay revenues, which are expected to develop into a new revenue source for The Quint, alongside existing operations in branded content and ad sales.”
On Friday, Quint Digital Limited completed the acquisition of a 77.5% stake, on a fully diluted basis, in Shvaas Creations Private Limited. Shvaas Creations Private Limited (“Shvaas”) was incorporated on December 17, 2024, by founders Vani Bisht and Shailesh Chaturvedi. Shvaas plans to launch an online digital platform under the brand name “Kisan India.” With this acquisition, Shvaas will become a subsidiary of the company.
“We wish to inform you that the Board of Directors of the company, in its meeting held on Friday, February 7, 2025, considered and approved the sale of the ‘Quint Hindi’ YouTube channel, including perpetual content licensing and other identified assets related to the channel, to Shvaas Creations Private Limited (“Shvaas”) for a total consideration of INR 39,52,326/- plus applicable taxes.”
The company further stated that INR 33,22,000/- plus applicable GST will be received upon completion of the sale, as specified in the agreement, for the transfer of the YouTube channel, including the grant of the license, based on the registered valuer report. Additionally, INR 6,30,326/- plus applicable GST will be received for the sale of identified assets associated with the channel.
Quint Digital Limited reported earnings results for the third quarter and nine months ended December 31, 2024. For the third quarter, the company reported sales of INR 85.13 million compared to INR 157.65 million a year ago. Revenue was INR 159.78 million compared to INR 220.32 million a year ago. Net loss was INR 31.33 million compared to net income of INR 829.07 million a year ago.