Mumbai: DB Corp Limited (DBCL), the leading print media company and home to flagship newspapers DainikBhaskar, DivyaBhaskar, DainikDivya Marathi and SaurashtraSamachar, has announced its financial results for the quarter ended December 31, 2017. The highlights of the Company’s operational and financial performance are as follows:
Performance highlights for Q3 FY 2017-18:
Advertising Revenues stands at Rs. 4263 million in current period against Rs. 4530 million. The Performance are not comparable on YOY basis as last year’s figure included one-offs pertaining to private treaty & festival billing. Excluding these one-offs, Ad revenue has registered positive growth.
The Circulation Revenue grew by 6% YOY to Rs. 1319 million from Rs. 1243 million, largely driven by volume growth from mature markets. The Total Revenue of the company stands at Rs. 6025 million in current period from Rs. 6309 million in Q3 last fiscal.
Excluding last year’s one-offs, total revenue has registered positive growth. EBIDTA of DB Corp stands at Rs. 1434 million (margin 24%) for the quarter; against EBITDA of Rs. 2019 million (margin 32%) Q3 of last year
EBITDA growth in mid-single digit, after adjusting excluding last year’s one-offs and circulation expansion related expenditures.
PAT stood at Rs. 781 million (PAT Margin 13%), against Rs. 1181 million (PAT Margin 19%), in Q3 of last year. Double digit growth in PAT on comparable basis after excluding last year’s one-offs and circulation expansion related expenditures
Radio business: Advertising revenues stood at Rs. 336 million in Q3 of current period, against Rs. 363 million in Q3 of last fiscal.
Radio business EBIDTA stood at Rs. 97 million (29% margin), against Rs. 148 million last year.
Radio Business PAT stands at Rs. 42 million (12% margin), against Rs. 81 million.
Digital business revenue stands at Rs. 154 million against Rs. 162 million reported during corresponding quarter last fiscal.
Commenting on the performance for Q3 FY 2017-18, Mr. SudhirAgarwal, Managing Director, DB Corp Ltd said, “The focus in the third quarter of this fiscal continued to be on two key initiatives which we started earlier – the product strengthening campaign and the circulation enhancement journey and I’m happy to report that both have successfully complemented each other to deliver results. The outcome has been a steady growth in our circulation. Press In India Report 2016-17 released by Registrar of Newspapers of India (RNI) has maintained DainikBhaskar newspaper to be the largest circulated multi-edition daily. Our focus is towards achieving stronger ad sales and with the team’s unwavering efforts we are confident of reporting stronger performance. Our internal measures adopted to support the editorial and sales team through initiatives like the DB Knowledge App and more impactful leadership-to-unit connect, are strengthening our internal efficiencies, our agility in decision making and quick turnaround. Through several key new leadership responsibilities, we have also ensured that the best talent resources are available for business growth as well as building internal leadership strengths.
“DBCL’s mission is also to engender socio-economic change across India. Aligned to this, on the 73rd birth anniversary of our Chairman Late. Shri Ramesh Chandra Agarwal, which we will commemorate as PrernaDiwas, this quarter, we initiated the establishment of the Ramesh &ShardaAgarwal Foundation. This will contribute to some core areas of socio-economic welfare including education of girl child, adoption of old age homes, mentoring talented small scale businesses and building a convention center of international standards in Bhopal. At a broader level, several core efforts have already been implemented by the government and signs of market revival are visible. The optimism demonstrated by the World Bank advising on India’s ability to achieve higher economic growth of 7.3% in 2018, also signals a stronger year ahead.”