DB Corp Limited (DBCL), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, announced its financial results for the quarter and year that ended on March 31, 2017. The highlights of the company’s operational and financial performance are as follows:
Performance highlights for FY 2016-17 – Consolidated
- Advertising revenues grew by 8 per cent y-o-y to Rs 15973 million as against Rs 14812 million generated during FY16.
- Circulation revenue grew by 11 per cent y-o-y to Rs 4814 million from Rs 4356 million reported during FY16. 9 per cent growth has come from yield growth, largely from mature markets only.
- Consolidated total revenues grew by 10 per cent y-o-y to Rs 22750 million, as against Rs 20735million delivered during last year.
- DBCL EBITDA grew by 18 per cent y-o-y during FY 2017 to Rs 6592 million (margins 29 per cent) from Rs 5590 million (margin 27 per cent); margin expansion of 200 bps.
- Consolidated PAT grew by 28 per cent to Rs 3748 million (margin 16.5 per cent) from Rs 2921 million (margin 14.1 per cent).
- Radio business grew by 18 per cent y-o-y to Rs 1273 million from Rs 1076 million last year.
- Radio business EBITDA grew by 20 per cent y-o-y to Rs 478 million (margin 38 per cent) from Rs 400 million (margin 37 per cent); margin expansion of 100 bps, in spite of launch of all new stations.
- Radio business PAT grew by 21 per cent y-o-y to Rs 247 million (margin 19 per cent) from Rs 205 million (margin 19 per cent).
- Digital business revenue grew by 24 per cent to Rs 567 million from Rs 460 million during FY16
Performance highlights for Q4 FY 2016-17 – Consolidated
- Advertising revenues were Rs 3567 million in current period from Rs 3600 million in Q4 of last fiscal.
- Circulation revenue grew by 7 per cent y-o-y to Rs 1217 million from Rs 1136 million, primarily due to yield driven growth, largely growth has come from mature market.
- Total revenue reported growth of 1.4 per cent y-o-y at Rs 5222 million in current period from Rs 5149 million in Q4 last fiscal.
- EBIDTA stands at Rs 1173 million with EBIDTA margin of 22 per cent for the quarter; against EBIDTA of Rs 1211 million (margin 24 per cent) Q4 of last year.
- PAT grew by 6 per cent y-o-y at Rs 642 million (PAT Margin 12.3 per cent), against Rs 604 million (PAT Margin 11.7 per cent), in Q4 of last year.
- Radio business advertising revenues expanded by 11 per cent y-o-y to Rs 330 million in Q4 of current period, against Rs 298 million in Q4 of last fiscal.
- Radio business EBIDTA stands at Rs 80 million (24 per cent margin).
- Radio business PAT stands at Rs 32 million (10 per cent margin).
- Digital business revenue grew by 19 per cent to Rs 142 million from Rs 119 million reported during corresponding quarter last fiscal.
Commenting on the performance for Q4 and FY 2016-17, Sudhir Agarwal, Managing Director, DB Corp, said, “While this fiscal continued to be one that tested our resilience, we are pleased with the final culmination having achieved some significant operating milestones. We maintained our focus on editorial strategy on how we can best leverage our largest network of journalists across media and languages platform. Equipping them with training and focusing on smaller centres, late night news reporting are initiatives that have led to significant improvement in quality and growth. On an overall basis, the impact of the currency purge undertaken by the Government seems to be easing out on consumption. The outlook for a normal and healthy monsoon season and the impending GST implementation are positive signals as we progress into a few fiscal.”