DB Corp Q3 net up 8% even as print, radio ad rev de-grows
MUMBAI: Print media company DB Corp‘s net profit has grown by 8% to Rs 81.6 crore for the quarter ended 31st December as against a net profit of Rs 75.6 crore in the corresponding quarter of the previous fiscal after considering forex loss of Rs. 90 lakh. The PAT margin was 13.6% as against 11.4%.
EBIDTA registered a growth of 2.2 % to Rs. 144.7 crore as against EBIDTA of Rs. 141.7 crore. EBITDA margin expanded 300 basis points to touch 24% compared to 21%.
Circulation Revenue stood at Rs. 132.1 crore as against Rs. 130.1 crore in Q3 FY2019. Advertising revenue declined to Rs. 424.8 crore as against Rs. 481.3 crore Q3 FY19, which includes the elections base of Madhya Pradesh, Chhattisgarh, and Rajasthan.
Total revenue came in at Rs. 601.8 crore as against Rs. 661.6 crore in Q3 FY2019. Total expenses declined to Rs 493.42 crore compared to Rs 546.7 crore.
The net profit for radio business came in at Rs. 6.2 crore versus Rs. 11.2 crore. EBIDTA stood at Rs. 13.5 crore compared to Rs. 20.2 crore. Advertising revenue at Rs. 37.2 crore when compared to Rs. 46.53 crore.
Commenting on the performance, DB Corp MD Sudhir Agarwal said, “On the revenue front, growth continues to be challenging for the industry, however, softening newsprint prices is a silver lining. This coupled with our cost rationalisation measures has enabled us to improve profit margins. Going forward, we are optimistic about revival in consumer spending and better revenue scenario. The government has been meeting stakeholders from the industry and we hope that these interactions manifest in support in the upcoming budget. Big-ticket reforms such as corporate tax cuts as well as the expansion of the infrastructure drive are also likely to culminate in helping to kick start the economy. We believe that our efforts in creating a strong base w ill help the Company and we continue to strive for better performance.”
DB Corp is India’s leading print media company and home to flagship newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi, and Saurashtra Samachar.