DB Corp has reported a nearly three-fold increase in consolidated net profit, reaching Rs 122.5 crore for the fourth quarter ending on March 31. The company reported a consolidated net profit of Rs 41 crore for the January-March quarter of the previous year.
During the quarter under review, its revenue from operations increased by 16.23% to Rs 617.13 crore, compared to Rs 530.95 crore in the same period of the previous fiscal year. The company reported total expenses of Rs 480.23 crore for the March quarter, a decrease of 2.2%.
DB Corp’s net profit climbed to Rs 425.52 crore, up from Rs 169.08 crore the previous year. Advertising revenue grew by a strong 24.57% to Rs 445.7 crore, up from Rs 357.8 crore.
Circulation revenue saw a growth of approximately 3%, reaching Rs 118.7 crore, up from Rs 115.3 crore. Total revenue surged by 17.8% to Rs 641.8 crore compared to Rs 544.6 crore.
EBIDTA surged by 121.2% to Rs 19.67 crore, up from Rs 8.89 crore, supported by advertising revenue growth with effective cost control measures, and also helped by softening newsprint prices. The radio business’ advertising revenue surged 32.5% YoY to Rs 42.66 crore, compared to Rs 32.2 crore and EBIDTA grew by 71.2% YoY to Rs 144.2 crore, compared to Rs 84 crore.
Commenting on the performance for Q4 FY2024, Sudhir Agarwal, Managing Director, DB Corp said, “Fiscal 2024 marks yet another year of continued growth for the Print Media sector in general and Dainik Bhaskar in particular. The momentum that has built over the past few quarters is a demonstration of the underlying strength of the medium. Apart from our Print business, our radio business continues this growth trajectory, digital business is also progressing as planned, and we are enthused by the immense potential of our omni-channel platform that is now firing on all cylinders.”
“We are happy that we have built a strong platform of growth and are encouraged by the broad-based advertising revenues that we continue to attract. With India’s growth momentum going strong, we see a plethora of opportunities and going into the new financial year, we are hopeful to be able to continue this momentum and increase our leadership position and deliver growth to all stakeholders,” he added.
