DB Corp, a 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 year ended March 31, 2023.
In FY2023, the consolidated performance of the company demonstrated significant growth. Advertising Revenue experienced a notable increase of 25.4% to Rs. 14,827 mn, compared to Rs. 11,827 mn in FY2022. Moreover, Total Revenue grew by approximately 21.2% to Rs. 21,682 mn from Rs. 17,885 mn. Circulation Revenue also witnessed a slight growth of around 1.5% to Rs. 4,627 mn, surpassing the previous year’s figure of Rs. 4,558 mn. Despite facing challenges such as high newsprint prices and substantial investments in the digital business for future expansion, the company achieved a 12% growth in EBIDTA, reaching Rs. 3,611 mn, when compared to Rs. 3,228 mn in the previous fiscal year. This growth was supported by stringent cost control measures and despite a forex loss of Rs. 52 mn. Additionally, the net profit showed a significant increase of 19% to Rs. 1,691 mn, after considering a forex loss of Rs. 60 mn, compared to Rs. 1,426 mn in the previous year. The radio business segment also performed well, with advertising revenue growing by 20% to Rs. 1,342 mn from Rs. 1,122 mn. Furthermore, the EBIDTA for the radio business grew by 28% to Rs. 402 mn, with an EBITDA margin of 30%, in contrast to Rs. 314 mn in the previous year.
In Q4 FY2023, the consolidated performance of the company exhibited strong growth, as highlighted by various key indicators. Advertising Revenue recorded a growth of 14.2%, reaching Rs. 3,578 mn compared to Rs. 3,134 mn in Q4 FY2022. The Total Revenue also experienced a significant increase of 13.5% to Rs. 5,446 mn from Rs. 4,799 mn in the same quarter of the previous year. The Circulation Revenue remained stable at Rs. 1,153 mn compared to Rs. 1,152 mn. Notably, the company achieved a remarkable growth in EBIDTA, which surged by 34% to Rs. 889 mn, despite challenges such as high newsprint prices and substantial investments in the digital business for future growth. This growth was made possible due to stringent cost control measures. Furthermore, the Net Profit witnessed substantial growth of 67% to Rs. 410 mn, compared to Rs. 245 mn in Q4 FY2022. In the radio business segment, Advertising Revenue grew by 6% year on year, amounting to Rs. 322 mn, surpassing the previous year’s figure of Rs. 303 mn. Additionally, the EBIDTA for the radio business stood at Rs. 84 mn, compared to Rs. 82 mn in the same period of the previous year.
