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DB Corp’s total revenue grows six per cent in Q3 FY 2016-2017

DBCL has announced its financial results for the quarter that ended on December 31, 2016. Ad revenue grew at four per cent while circulation revenue increased nine per cent. EBITDA grew by four per cent and PAT grew by seven per cent

BestMediaInfo Bureau | Mumbai | January 20, 2017

db-corpDB Corp Limited (DBCL) — the print media company and home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar — has announced its financial results for the quarter that ended on December 31, 2016.

Consolidated Q3 FY 2016-2017

Advertising Revenues reported a growth of four per cent year on year to Rs 4,530 million in current period from Rs 4,356 million in Q3 of last fiscal. Circulation revenue increased nine per cent year on year to Rs 1,243 million from Rs 1,141 million, primarily due to yield driven growth.

Total Revenue reported a growth of six per cent year on year at Rs 6,309 million in current period from Rs 5,947 million in Q3 last fiscal. Earnings before interest, tax, depreciation and amortization (EBITDA) grew by four per cent year on year to Rs 2,019 million with EBITDA margin of 32 per cent for the quarter; against EBITDA of Rs 1,944 million (margin 33 per cent) Q3 of last year, after considering forex loss of Rs 10.4 million.

Profit after tax (PAT) grew by seven per cent year on year at Rs 1,181 million (PAT Margin 19 per cent), against Rs 1,107 million (PAT Margin 19 per cent), in Q3 of last year, after considering forex loss of Rs 26.7 million.

Radio business advertising revenue has expanded by 12 per cent year on year to Rs 363 million in Q3 of current period, against Rs 323 million in Q3 of last fiscal.  Radio business EBITDA grew by three per cent year on year at Rs 148 million (41 per cent margin), radio business maintains highest EBITDA margin among all major peers. Radio business PAT grew by three per cent year on year to Rs 81 million (22 per cent margin). Digital business revenue grew by 33 per cent to Rs 162 million from Rs 123 million reported during the corresponding quarter last fiscal.

[caption id="attachment_50971" align="alignleft" width="183"]Sudhir Agarwal Sudhir Agarwal[/caption]

Commenting on the performance for Q3 FY 2016-17, Sudhir Agarwal, Managing Director, DB Corp, said, “The resilience of our business model and strength of our operating strategy has been brought to the fore by our performance in Q3, which has broadly been a quarter of weak demand and subdued consumer spending and I take this opportunity to thank the team for their sincerity and dedication. Dainik Bhaskar has been acknowledged as the nation’s largest circulated multi-edition daily by Registrar of Newspapers for India (RNI), which is again an endorsement of our operating approach and philosophy.”

Agarwal further said, “We have undertaken several growth-oriented initiatives across all our print, digital and radio segments that have made a holistic impact on the business. We will continue to maintain this discipline and control at all levels while we are also empowering employees to enhance agility in the workplace. We expect the immediate-to-midterm impact of the currency purge undertaken by the Government, on consumption, to normalise over the next few months, a process which has already slightly started improving. We will continue to sharpen our strengths across our print and non-print businesses as well as our deep knowledge of our customers’ domain that are driving our ability to play a strategic role in the Indian M&E environment.”

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