DB Corp Ltd has reported a 16.4 per cent increase in its consolidated revenues to Rs 3,956 million from Rs 3,482 million. This has been aided by a net increase in the total revenue of the print business of Rs 411 million in Q3 FY12 on a year-on-year basis.
Advertising revenues of the print business grew 7 per cent to Rs 2,872 million from Rs 2,688 million. Circulation revenues grew to Rs 630 million from Rs 540 million, a growth of 17 per cent y-o-y.
Consolidated advertising revenues increased by 9 per cent y-o-y to Rs 3,059 million in Q3 FY12 from Rs 2,815 million in Q3 last fiscal. Net profit margin stood at Rs 554 million, as against Rs 778 million in Q3 FY11 after consideration of radio demerger adjustment of Rs 127 million. The same factors one-time pre-operative expenses of Rs 21.3 million for launch in Maharashtra as well as forex loss of Rs 87.3 million.
Meanwhile, the group’s radio business continues to scale up well, reporting a 22 per cent growth in advertising revenues to Rs 157 million, supported by a robust EBITDA growth of Rs 42.1 million in Q3 on y-o-y basis. The radio segment saw a net increase of Rs 28 million in revenues in Q3 on y-o-y basis, while profit after tax stood at Rs 22 million (14 per cent margin) in Q3 FY12.
Commenting on the Q3 FY performance, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “This quarter, our focus centred on further consolidating our pan-India leadership position as we tightened our lead in core markets of Madhya Pradesh, Chhattisgarh, Chandigarh, Haryana, Punjab (JAL), urban Rajasthan and Gujarat. As revealed by the quarterly IRS data released in December 2011, DB Corp continues to be the largest read newspaper group with 19.2 million readers, and this quarter we expanded our readership base with 0.8 million readers, which has significantly widened our lead. We have also maintained our leadership as the largest read newspaper of urban India.”
Print business break-up for Q3 FY12:
An analysis and break-up of Mature and Emerging Editions financials on a quarterly basis is given below. Editions that are below four years of age or profitable since the last four quarters, have been classified as Emerging Editions.
*Emerging Editions losses also include loss of Rs. 12 million for the new printing centres/
Editions, opened in the mature markets of Rajasthan, Gujarat, MP, Haryana and Punjab.