DB Corp Limited (DBCL), the largest print media company and home to flagship newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, announced its financial results for the quarter and financial year ended March 31, 2022.
Performance highlights for FY2022:
The company reported Advertising Revenue growth by 17.3% at Rs. 1182.7 crore as against Rs. 1008.4 crore. The Circulation Revenue grew by 9.9% at Rs. 455.8 crore as against Rs. 414.6 crore. The Total Revenue grew by 17.5% at Rs. 1788.5 crore as against Rs 1522.2 crore.
The company posted EBIDTA growth by 1.1% at Rs. 322.8 crore as against Rs. 319.3 crore. Print Business EBIDTA grew in high teens with EBIDTA margin expanded by 100 basis points to around 26%, despite newsprint prices headwinds. PAT grew by 0.8% at Rs. 142.6 crore as against of Rs. 141.4 crore.
Performance highlights for Q4 FY2022:
The company recorded Advertising Revenue growth by 1.6% to Rs. 313.4 crore as against Rs. 308.4 crore, on a comparative higher base of last year. The Circulation Revenue grew by 4.4% at Rs. 115.2 crore as against Rs. 110.4 crore. The Total Revenue grew by 4.3% at Rs. 479.9 crore as against Rs. 460.1 crore.
EBIDTA stands at Rs. 66.3 crore as against Rs. 104.7 crore, aided by stringent cost control measures and despite large digital business investment for future growth. Print Business EBIDTA margin stands at 24% in spite of newsprint price increase. Net Profit stands at Rs. 24.5 crore as against Rs. 61.9 crore.
Commenting on the performance for FY2022, Sudhir Agarwal, Managing Director, DB Corp Ltd. said, “When the Covid-19 pandemic ravaged the country, we were extremely proud of our front-line team members who wanted to bring a sense of continuity and calm and reduce the stress of our readers. Our thoughtful editorial integrity coupled with strong on-ground reporting ensured that we were the #1 choice of readers in India and our current leadership position is a strong testament to our readers. The Digital Push to become an omni-channel news delivery powerhouse is amplified by the dominant #1 position that our Hindi and Gujarati News Apps command.
This leadership position, coupled with a resurgence of traditional advertising has also enthused our team to bring innovative solutions to the advertising community. With record-breaking mega editions ushering in the revival of post covid ad spends, our broad spectrum of advertisers – small traders, hyperlocal content, large companies, MNCs and industry leaders all reposed faith in the Dainik Bhaskar Group and this has helped us generate strong returns for all our stakeholders with our Print Advertising Revenues reaching pre-Covid levels.
The sustainable cost-cutting measures that we undertook coupled with the support of our readers as we increase cover prices has ensured that we end this financial year on a very strong position and are well-placed to forge newer milestones in the forthcoming quarters.”