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DB Corp reports drop in Q3FY18 ad revenue

PAT stood at Rs 781 million (PAT Margin 13%), against Rs 1181 million (PAT Margin 19%), in Q3 of last year

DB Corp Limited (DBCL), publisher of Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, has announced its financial results for the quarter ended December 31, 2017.

Performance highlights for Q3 FY 2017-18

Consolidated

Advertising Revenues stands at Rs 4263 million in current period against Rs 4530 million.

Circulation Revenue grew by 6% YOY to Rs 1319 million from Rs 1243 million, largely driven by volume growth from mature markets.

Total Revenue stands at Rs 6025 million in current period from Rs6309 million in Q3 last fiscal. Excluding last year’s one-offs, total revenue has registered positive growth.

EBIDTA stands at Rs 1434 million (margin 24%) for the quarter; against EBITDA of Rs 2019 million (margin 32%) Q3 of last year.EBITDA growth in mid-single digit, after adjusting excluding last year’s one-offs and circulation expansion related expenditures.

PAT stood at Rs 781 million (PAT Margin 13%), against Rs 1181 million (PAT Margin 19%), in Q3 of last year. Double digit growth in PAT on comparable basis after excluding last year’s one-offs and circulation expansion related expenditures.

Radio business: Advertising revenues stood at Rs 336 million in Q3 of current period, against Rs 363 million in Q3 of last fiscal.

Radio business EBIDTA stood at Rs 97 million (29% margin), against Rs 148 million last year.

Radio Business PAT stands at Rs 42 million (12% margin), against Rs 81 million.

Digital business revenue stands at Rs 154 million against Rs 162 million reported during corresponding quarter last fiscal.

Performance highlights for 9M FY 2017-18-Consolidated:

Consolidated advertising revenues grew by 1.3% YOY to Rs 12,565 million as against Rs 12406 million during 9M last year.

Circulation revenue increased by 6.3% YOY to Rs 3825 million from Rs 3597 million during 9M last year. Around 4% growth has been driven by yield growth largely from mature markets.

Consolidated Total Revenues grew by 1.4% YOY to Rs 17778 million, as against Rs 17528 million during 9M last year.

EBITDA during 9M FY 2018 stood at Rs 4824 million (margins 27%) vis-a-visRs 5418 million (margin 31%).

Consolidated PAT stands at Rs 2669 million (margin 15%) from Rs 3106 million (margin 18%).

Radio business grew by 6% YOY to Rs 997 million from Rs 942 million last year.

Radio business EBIDTA stands at Rs 246 million (margin 25%) from Rs 398 million (margin 42%). 9M FY17 EBITDA includes royalty reversal amounting to Rs58 million.

Radio business PAT stands at Rs 98 million (margin 10%) from Rs 215 million (margin 23%). 9M FY17 PAT includes royalty reversal amounting to Rs 58 million.

Digital business revenue stands at Rs398 million versus Rs425 million during corresponding period.

Commenting on the performance for 9M & Q3 FY 2017-18, Sudhir Agarwal, Managing Director, DB Corp, said, “The focus in the third quarter of this fiscal continued to be on two key initiatives which we started earlier – the product strengthening campaign and the circulation enhancement journey and I’m happy to report that both have successfully complemented each other to deliver results. The outcome has been a steady growth in our circulation. Press In India Report 2016-17 released by Registrar of Newspapers of India (RNI) has maintained Dainik Bhaskar newspaper to be the largest circulated multi-edition daily. Our focus is towards achieving stronger ad sales and with the team’s unwavering efforts we are confident of reporting stronger performance. Our internal measures adopted to support the editorial and sales team through initiatives like the DB Knowledge App and more impactful leadership-to-unit connect, are strengthening our internal efficiencies, our agility in decision making and quick turnaround. Through several key new leadership responsibilities, we have also ensured that the best talent resources are available for business growth as well as building internal leadership strengths.

At a broader level, several core efforts have already been implemented by the government and signs of market revival are visible. The optimism demonstrated by the World Bank advising on India’s ability to achieve higher economic growth of 7.3% in 2018, also signals a stronger year ahead.”

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Tags: DB Corp
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