Mumbai: DB Corp Limited (DBCL), India’s largest print media company and home to flagship newspapers DainikBhaskar, DivyaBhaskar, Divya Marathi and Saurashtra Samachar, today announced its financial results for the quarter and half year ended September 30, 2018.
The highlights of the Company’s operational and financial performance are as follows:
- Strong consolidated ad revenue growth of 16.9% after adjusting impact of last year’s festival season. During Q2 FY’19 the company has generated Rs 4132 millions against Rs 3534 millions earned in Q2 FY’18. The Print ad revenue has seen a growth of 17.4% (3641 million) and Radio has seen 18% (377 million) growth.
- Circulation Revenue has increased 5.6% YoY to Rs. 1318 million from Rs. 1248 million,primarily due to volume driven growth
- Total Revenue has grown by 2.8% to Rs. 5875 million in current period from Rs.5713 million inQ2 last fiscal. On an adjusted basis, total revenue grew by 12.8% YOY to Rs. 5875 million from Rs. 5207 million, after adjusting for last fiscal one off items as well festival season billing
- EBIDTA Stands at Rs. 977 million (margin of 17%), against EBIDTA of Rs. 1456 million, in Q2FY18; after considering forex loss of Rs.58.4 million and circulation expansion strategy related non-recurring expenditure of Rs. 110 million
- PAT stands at Rs. 462 million (PAT Margin 8%), against Rs. 787 million (PAT Margin 14%), in Q2 of last year; considering forex loss of Rs. 62 million and circulation expansion strategy related non-recurring expenditure of Rs. 110 million.
- Radio business: Advertising revenues expanded by 8.4% YOY to Rs. 377 million in Q2 of current period, against Rs. 348 million in Q2 of last fiscal. On adjusted basis, Radio delivered growth of 18%, after adjusting for last fiscal’s festival season billing.
- Radio business EBIDTA grew by 30% YOY to Rs. 120 million from Rs. 92 million
- Radio Business PAT grew by 47% YOY to Rs 58 million from Rs. 40 million last year
- Digital business revenue grew by 5% YOY to Rs. 119 million from Rs. 114 million
Commenting on the performance for Q2 FY 2018-19, SudhirAgarwal, Managing Director, DB Corp Ltd said, “Our circulation strategy implemented in recent times continues to deliver results that are also driven by the parallel execution of several growth-led initiatives undertaken across all our pillar divisions. The results of our efforts are visible through DainikBhaskar’s progress in Bihar where in a short span of time, we have been able to build a second leadership position through strong on-ground execution. DainikBhaskar is also now the largest circulated paper in Rajasthan. The same operating philosophy is being aggressively implemented across all regions of our presence where our focus continues to remain on sharpening our organisational strengths, leading market expansion and driving excellence, enabling us to strive harder in a rapidly evolving and competitive media environment.
As we progress we expect the consumption and demand cycle to stablilize. Crude volatility and currency led inflation seem to loom going ahead, but we will continue to manage our business dynamically while driving operational efficiencies. As our strategic campaigns play out well we look excitedly towards the second half of fiscal 2019, as we expand the frontiers of our vision, drive key areas of the business, act swiftly and efficiently on available opportunities, and address our customers’ needs with our full range of capabilities.”