DB Corp net profit up 62.5% on YoY basis to Rs 500.3 crore in Q1FY23

DB Corp, the publisher of flagship newspapers - Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, saw an increase in the company’s total revenue by 62.5% on a year-on-year basis to Rs 500.3 crore in the quarter ended June 30, 2022, as compared to Rs 308 crore in the corresponding quarter in the previous year.

Meanwhile, the advertising revenue increased by 96.6% to Rs 337 crore in Q1FY23 from Rs 171 crore in Q1FY22. The circulation revenue grew by 4.4% to Rs 115.6 crore as against Rs 110.6 crore.

EBITDA grew by 1338 % YoY to Rs 74 crore from Rs 5 crore assisted by stringent cost control measures.

Print and Other business Ad Revenue registered a growth of 95.7% YoY to Rs 305 crore from 156 crore.

Moreover, radio advertising revenue increased by 105.8 % YoY to Rs 32 crore versus Rs 16 crore of previous year and radio EBIDTA grew by 3723 % YoY to Rs 9.4 crore versus loss of Rs 0.26 crore.

As per the report issued by the company, the monthly active user of Dainik Bhaskar Group’s news apps has seen a decline by 4 lakh subscribers from 17.2 million in Jan-22 to 16.8 million in May 2022. As per it, the MAUs of Dainik Bhaskar App have remained constant at 13.6 million, however, the MAUs of Divya Bhaskar have dropped from 3.7 million in January 2022 to 3.2 million at the end of May 2022.

According to a BSE filing by the company, the print industry is regaining momentum: Dainik Bhaskar Group is a key beneficiary of the reversion-to-print trend that is being witnessed. Advertisers are increasingly moving back to traditional media – Print and TV, for their ad spends and Dainik Bhaskar with its omni-channel delivery of high-quality content is a trusted platform for advertisers across the board. DB Corp’s Print advertising performance has reached near to Q1 FY20 performance, excluding government and political billing.

Observing the performance for Q1FY2023, Sudhir Agarwal, Managing Director, DB Corp, said, “Our industry has always been the most resilient in the face of challenges. While several experts were writing off print media in the wake of the digital revolution, we, at Dainik Bhaskar, continued our focus on delivering high quality and trustworthy content to our loyal readers. Not only have we moved to a strong leadership position in both physical and digital, but we are also benefiting from an industry level shift where advertisers are moving back to print in a significant way. This strategy has helped us deliver strong financial results for the Q1 FY2023.”

“The editorial team at Dainik Bhaskar has established a strong mechanism to understand the pulse of its readers and deliver content that is honest, relevant, and useful. With our strong on-ground presence, we have established ourselves as the #1 Indian Language omni-channel news delivery platform. Our circulation strategy has enabled us to scale up to the pre Covid-19 peak. We continue our focus towards strengthening our financial position by remaining committed to our cost saving measures, especially important in light of high newsprint prices, which we expect will stabilise in the forthcoming quarters. We commence this new financial year with a sense of strong optimism,” he added.

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