DB Corp Limited, the publisher of flagship newspapers - Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, posted net profit of Rs 61.9 crore for the quarter ended March 31, 2021. The company’s profit grew 158% YoY from Rs 24.1 crore in the corresponding quarter of the previous year.
EBIDTA grew by 52% YoY at Rs 104.7 crore (23% margin) as against Rs 69 crore (margin of 14%).
However, the advertising revenue stood at Rs 308.4 crore, down 6.6% from Rs 330.3 crore. The drop in circulation revenue stood at 8%. The circulation revenue during Q4FY21 was Rs 110.4 crore as against Rs 120 crore in the corresponding quarter of the previous year.
Total Revenue came in at Rs 460.1 crore as against Rs 489.8 crore.
For the full fiscal year, the company’s total revenue stood at Rs 1522.2 crore as against Rs 2236.3 crore, a drop of 32%. EBIDTA stood at Rs 319.3 crore as against Rs 494 crore. PAT for the FY21 stood at Rs 141.4 crore as against Rs 275 crore.
Commenting on the performance for FY 2020-21, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “While we look back at Fiscal 2021, it has been an extremely unprecedented year by all accounts. For the Print Industry, it has also been a year of reaffirmation of the fact that the Indian reader is extremely discerning and values good editorial ethos. This also validates our core principle that we have been following for the last many decades - Courageous Journalism is difficult and if done well is the most sustainable path for the future.
It has also reaffirmed the changing dynamics of the Print Industry with Indian language newspapers doing significantly better than our English counterparts and outstripping them not only in circulation numbers, but in advertising revenues as well. We are happy to reiterate that the un-metro path chosen by our Founder and solidified by the Company over the past few years is continuing to fructify. Our digital efforts are also beginning to see traction and we are confident that we will continue to deliver quality journalism through all medium.
The local and relevant content that we continued to deliver to our readers has further strengthened our franchise and has ensured that we have emerged stronger. On the back of this, we believe we are well- positioned for long-term growth, and it grounds our conviction that we can continue to substantially and profitably scale up our business albeit steadily.”