Dainik Bhaskar Group reports strong Q3 FY13 performance

Quarterly revenue grows by 11.2 per cent YOY; advertising revenue up 12 per cent; PAT grows by 28 per cent at Rs 706 million

BestMediaInfo Bureau | Mumbai | January 22, 2013

DB Corp Limited (DBCL), India's largest print media company owning Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, yesterday announced its financial results for the third quarter and nine months ended December 31, 2012. The highlights of the Company's operational and financial performance are as follows:

Q3 FY2013 total revenues have grown by 11.2 per cent YOY to Rs 4,427 million against Rs 3,980 million in Q3 FY2012. Advertising revenues reported a growth of 12 per cent YOY to Rs 3,412 million against Rs 3,059 million in Q3 of previous year. PAT has grown by 28 per cent for the quarter at Rs 706 million (16 per cent margin) against Rs 554 million in Q3 of previous year (margin 13.9 per cent).

For the nine-month period FY2012-13, consolidated total revenues have increased by 8.6 per cent to Rs 12,064 million from Rs 11,113 million in last fiscal. The consolidated advertising revenues grew by 5.2 per cent to R. 9,100 million from Rs 8,651 million in the period under review. The consolidated PAT has expanded to Rs 1,629 million (13.5 per cent margin) from Rs 1,567 million (14.1 per cent margin), up by 4 per cent on YOY basis.

The Radio business has maintained good progression reporting 22 per cent growth in Q3 FY13 supported by a robust EBITDA growth of Rs 30 million on YOY basis.

Commenting on the company's financial performance, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “We are pleased to have once again delivered a satisfactory performance this quarter driven by several key factors. Following the past few quarters of sluggish economic growth and subdued sentiments, I believe this quarter heralds better tidings on the back of an improved economic environment that has also spurred the momentum of media ad spend over the last few months – a trend that may continue. We continue to strengthen our internal capacities and resources and remain optimistic about our progress in every region.”

Agarwal added, “Our efforts in consolidating pan-India readership growth especially in the recently launched areas of Jharkhand and Maharashtra that are emerging strongly, and persistent cost rationalisation is reflected in this quarter's performance. We are greatly encouraged by the positive feedback and the strong renewal of subscriptions of copies in Jalgaon. We are expending considerable time to conduct more focused consumer feedback, bringing in more innovation in content and further localising it, connecting with the consumer in our emerging centres, to create differentiated products. We will continue in our endeavours to utilise our competitive strengths most productively, to strengthen our infrastructure, monetise our centres and thereby translate this growth to deliver greater value to all stakeholders.”

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