Mumbai: DB Corp Limited (DBCL), India’s largest print media company and home to flagship newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, today announced its financial results for the Quarter and Half Year ended September 30, 2024.
D B Corp has delivered Advertisement revenue CAGR growth of 20% in last 3 years period from Rs 10084 million in FY21 to Rs 17524 million in FY24. Similarly, PAT has delivered an impressive 44% CAGR growth in last 3 years from Rs 1414 million in FY21 to Rs 4255 million in FY2024. In the 1st Half Year of FY25, EBITDA margins expanded by 200 bps YoY to 27.8% and EBITDA stood at Rs 3351 million with growth of 10% YOY, on account of soft newsprint prices & reflecting efficient cost management. Profit After Tax saw a 12% YoY growth to Rs 2004 million, showcasing sustained profitability. Total revenue grew by 2% YoY to Rs 11988 million on an Election led high base, where the state elections boosted ad revenues in H1 of last year. Advertisement revenue remained flattish with 1% YOY growth to Rs 8291 million on an election led high base where the State Elections driven environment boosted Ad revenue in H 1 FY 24followed by a similar boost with the national elections in the H 2 of FY 24. Further an extended monsoon till August & September specially in our Key markets of MP, CG, Rajasthan, Gujarat slowed down the economic activities and consumer spending, thereby impacting overall ad spends in Qtr 2 of FY 25. Our Radio Business led industry growth with a 11% YoY increase in advertising revenue to Rs 801 million and 250 bps rise in EBIDTA margin to 33% at Rs 264 million. Our Capital allocation policy remains consistent & rewarding with around 60% Dividend pay-out maintained over a period of time. This performance underscores our commitment to stakeholder value and further reinforced by a second interim dividend of Rs 5 per share, demonstrating our financial strength and strategic focus on sharing our growth performance with all our shareholders.
Performance highlights for H1 FY2025 – Consolidated [All Comparisons with H1 FY2024]
- Total Revenue grew by 2% to Rs. 11988 million as against Rs. 11,755 million.
- Advertising Revenue grew by 1% to Rs. 8291 million as against Rs. 8,247 million.
- Circulation Revenue stands at Rs.2367 million as against Rs. 2,404 million
- EBIDTA grew by 10% to Rs. 3351 million as against Rs. 3,035 million aided by Advt revenue Growth with effective cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by 200 basis points to 28% from 26% last year
- Net Profit grew by 12% YOY to Rs. 2004 million as against Rs. 1,790 million.
- Radio business: Advt. Revenue grew by 11% YOY at Rs 801 million versus Rs. 720 million. EBIDTA grew by 18% YOY to Rs. 264 million versus Rs. 223 million
Performance highlights for Q2 FY2025 – Consolidated [All Comparisons with Q2 FY2024]
- Total Revenue stands at Rs. 5825 million as against Rs. 6,019 million on an election environment led driven high growth base of last year
- Advertising Revenue stands at Rs. 4014 million as against Rs. 4,301 million, due to high base of last year.
- Circulation Revenue stands at Rs. 1175 million as against Rs. 1,205 million
- EBIDTA stands at Rs. 1442 million ( EBIDTA margin 25%) as against Rs. 1,676 million.
- Net Profit stands at Rs. 826 million as against Rs. 1,003 million.
- Radio business: Advt Revenue grew by 16% YOY at Rs 414 million versus Rs. 356 million. EBIDTA grew by 22% YOY to Rs. 132 million versus Rs. 108 million
Commenting on the performance for Q2 FY 2025, Sudhir Agarwal, Managing Director, DB Corp Ltd said, ” In Q2 FY25, we did not meet our revenue growth targets, primarily due to the extended monsoon season, which slowed market activity and consumer spending, and a high base effect – Q2FY24 was an exceptionally strong quarter bolstered by significant advertising driven by state elections filled environment. We believe will continue our growth trajectory in the coming quarters to meet our long-term growth strategy as we are actively adapting to current market conditions. Our Digital Business is thriving, with continued growth in MAUs to almost 20 million as of Aug’24, despite monetizing on a pilot basis., Our foundation for future success remains strong, built on our commitment to editorial excellence, continued broad-based support from advertisers, and the robust economic growth in our key markets. These factors position us well to capitalize on emerging opportunities. As India’s economic landscape evolves in the post-election period, we are confident in our ability to further cement our market leadership and continue to focus on enhancing value to our stakeholders.”
