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DB Corp reports 56% drop in net profit in Q4FY20

The total revenue of the company witnessed a drop of 17% in Q4FY20 over the corresponding quarter of the previous year

DB Corp Limited (DBCL), the publisher of Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, has reported 56% drop in profit after tax in the quarter ending March 31 of the financial year 19-20. The total revenue of the company witnessed a drop of 17% in Q4FY20 over the corresponding quarter of the previous year.

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The company, in its annual filing at BSE, told that strict lockdown to contain Covid-19 paralysed advertising revenue as it witnessed only a few ads for those in essential products in April. However, there has been some pick-up from May onwards from sectors like Government, Education, Automobiles, Consumer Durables and FMCG, the company said.

Financial highlights - Q4FY2020 - Consolidated

PAT came in at Rs. 241 million (margin of 5%) as against Rs. 545 million (margin of 9.2 after considering forex loss of Rs. 80 million

EBIDTA came in at Rs. 690 million (margin of 14%) as against Rs. 1067 million (margin of 18%), after considering forex loss of Rs. 66 million

Circulation Revenue stood at Rs. 1200 million as against Rs. 1273 million

Advertising Revenue stood at Rs. 3303 million as against Rs. 4130 million

Total Revenue came in at Rs. 4898 million as against Rs. 5911 million

Radio business:

Advertising Revenue at Rs. 326 million versus Rs. 390 million

EBIDTA at Rs. 96 million (margin of 30%) versus Rs. 132 million (margin of 34%)

PAT came in at Rs. 35 million (margin of 11%) versus Rs. 63 million (margin of 16%)

FY2020 – Consolidated

PAT reported a growth of 0.4% YOY to Rs. 2750 million (margin of 12.3%) as against Rs. 2738 million (margin of 11%), after considering forex loss of Rs. 116 million

EBIDTA came in at Rs. 4940 million (margin of 22%) as against Rs. 5209 million (margin of 21%), after considering forex loss of Rs. 86 million

The operating profit margin expansion has been aided by softened newsprint prices at Rs. 38840 PMT in FY2020, down 11% YOY. The other cost efficiency measures are continuing to yield results

Circulation Revenue stood at Rs. 5122 million as against Rs. 5237 million

Advertising Revenue stood at Rs. 15640 million as against Rs. 17625 million

Total Revenue came in at Rs. 22363 million as against Rs. 24794 million

Radio Business:

Advertising Revenue at Rs. 1391 million versus Rs. 1549 million

EBIDTA at Rs.431 million (margin of 31%) versus Rs. 525 million (margin of 34%)

PAT came in at Rs. 198 million (margin of 14%) versus Rs. 260 million (margin 17%)

Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “Fiscal 2020 was unprecedented in many aspects with the Industry facing headwinds on the back of weak consumer demand followed by the covid-19 pandemic which caused further challenges. The nation-wide lockdown led by the outbreak of covid-19, caused an immediate disruption to businesses, impacting revenues towards the end of Q4FY20 and continuing in Q1FY21. However, Group’s hard work over the years has ensured that our financial and market position remain strong to withstand such challenging times.

While revenue growth in the recent quarters has been muted, our relentless cost optimization drive coupled with soft raw material prices helped in protecting bottom line. Going forward, as we expect opening of the economy over the coming weeks, we remain optimistic of an up-tick in advertising spends by companies looking to woo the consumers back, especially for our key markets which represents the non-metros, semi-urban and rural tier- II, tier-III & tier-IV where economic activity is expected to resume sooner.”

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Tags: DB Corp
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