DB Corp has reported a 12 per cent growth YOY in its advertising revenues for the third quarter ended December 31, 2012 at Rs 3,412 million as compared to Rs 3,059 million in the corresponding period of the previous year.
Total revenues grew 11.2 per cent YOY to Rs 4,427 million in Q3 FY13 as against Rs 3,980 million in Q3 FY12.
The media group reported Q3 profit after tax of Rs 706 million, a growth of 28 per cent as against Rs 554 million in Q3 FY12.
Meanwhile, DB Corp’s radio business showed robust growth in Q3 FY13. Advertising revenues from radio recorded a 22 per cent hike to Rs 191 million as compared to Rs 157 million in Q3 of last fiscal. Radio business EBIDTA stood at Rs 73 million, a YOY growth of 68 per cent; while radio business PAT was recorded at Rs 47 million in Q3 FY13, a YOY growth of 113 per cent.
The group’s digital business also continued to register impressive growth with ad revenue touching almost 100 per cent growth in Q3 YOY on the strength of continuous high volumes of unique visitors and page views per month.
Commenting on the company’s financial performance, Sudhir Agarwal, Managing Director, DB Corp said, “Following the past few quarters of sluggish economic growth and subdued sentiments, I believe this quarter heralds better tidings on the back of an improved economic environment that has also spurred the momentum of media ad spend over the last few months – a trend that may continue.”
He further said, “Our efforts in consolidating pan-India readership growth, especially in the recently launched areas of Jharkhand and Maharashtra that are emerging strongly, and persistent cost rationalisation – is reflected in this quarter’s performance. We are greatly encouraged by the positive feedback and the strong renewal of subscriptions of copies in Jalgaon.”