DB Corp Limited, a print media company and home to newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, today announced its financial results for the quarter and nine months ended December 31, 2022.
The advertising revenue grew by 29 pc to Rs.11,233 million as against Rs. 8,693 million. Circulation Revenue grew by around 2 pc to Rs. 3,469 million as against Rs. 3,406 million. The total revenue grew by around 24 pc to Rs. 16,209 million as against Rs. 13,087 million.
The EBIDTA grew by pc to Rs. 2,722 million (considering Forex loss of Rs 63 million) as against Rs. 2,565 million, aided by stringent cost control measures, & despite high newsprint prices and large digital business investment for future growth
The net profit grew 8.5 pc to Rs. 1,281 million (considering Forex loss of Rs 72 million) as against Rs. 1,180 million
For the Radio business, the advertising revenue grew 24.6pc to Rs. 1,020 million versus Rs. 819 million. The EBIDTA grew by 37.3 pc to Rs. 318 million (EBITDA margin at 31 pc) versus Rs. 232 million.
Commenting on the financials, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “The Indian Economy continues to be the most resilient on the global stage, and while most major economies are facing recessionary sentiments, the Indian Consumption Story has played out well in the past nine months. The festive season saw a strong revival of growth and this was primarily driven by Tier-II and beyond cities that seem to be the engines driving the growth of the economy. Our strong presence in these markets have ensured that we are key beneficiaries of robust growth in ad revenues coupled with the continued trend of advertisers turning to traditional sectors like Print for their ad spends.”
“To ensure that we stay engaged with our loyal reader base, our teams continue to work on our omni-channel news delivery platform with significant strides being made through our digital initiatives. We continue to focus on financial prudence to strengthen our balance sheet and deliver strong returns to all our stakeholders,” he concluded.
