Mumbai: DB Corp Limited (DBCL), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, today announced its financial results for the quarter and nine months ended December 31, 2018. The highlights of the Company’s operational and financial performance are as follows:
Performance highlights for Qtr 3 FY 19 Consolidated -All Comparisons with Qtr 3 FY18:
- Advertising Revenues reported growth of 13% YOY to Rs. 4813 million in current period fromRs. 4261 million
- Circulation Revenue has increased 3% YoY to Rs. 1301 million from Rs. 1262 million
- Total Revenue has grown by 11% to Rs. 6616 million in current period from Rs.5965 million
- EBIDTA Stands at Rs. 1417 million (margin of 21.4%), against EBIDTA of Rs. 1434 million onthe back of strategic cost rationalisation measures and despite high newsprint rates
- PAT stands at Rs. 756 million (PAT Margin 11.4%), against Rs. 781 million (PAT Margin 13%)
- Radio business: Reports stellar performance
- Advertising revenues expanded by 39% YOY to Rs. 465 million in Q3 of current period, against Rs. 334 million in Q3 of last fiscal.
- EBIDTA grew 2x YOY to Rs. 202 million (EBIDTA margin of 43%) from Rs. 96 million(EBIDTA margin of 29%); margin expansion of 1400 bps
- PAT grew by ~3x YOY to Rs 112 million from Rs. 42 million last year
- Digital business – Gaining traction
- Turns EBITDA positive on the back of renewed focus on business profitability
- Revenue for the quarter stood at Rs. 141 million as against Rs. 154 million for Q3 FY 18.
Commenting on the performance for Q3 FY 2018-19, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “Our performance this quarter is a culmination of dedicated strategic efforts made across all our businesses spanning print, digital and radio. Over the last few quarters our focus has been on the execution of our circulation strategy across India supported by strong reader engagement and product enrichment initiatives. We have undertaken several initiatives to unlock their potential that will help us monetise our inherent, strong brand strengths through leveraging our loyal digital user base, our hyper local presence across radio and programming strength through content. The impact of these efforts have already started to emerge and will reflect in the coming months.
At an industry level, the government’s ad rate hike is a welcome move for all players and will provide a strong impetus for growth. Structurally, India continues to be one of the world’s fastest growing economies. Decline in crude oil prices and rationalization of GST rates will help trigger a revival momentum in consumption. Across India, content consumption is growing at a brisk pace across mediums and given our legacy and competitive aggression, we are totally committed to expand our capabilities to deliver growth and shareholder value.”
