DB Corp Limited (DBCL), India’s largest print media company and home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, has announced its financial results for the quarter ended June 30, 2016. The highlights of the Company’s operational and financial performance are as follows:
As per the results, Advertising Revenues reported growth of 21% YOY to Rs 4136 million in current period from Rs 3423 million in Q1 of last fiscal, primarily through volume recovery and market share recovery. Total Revenue reported growth of 19% at Rs 5745 million in current period from Rs 4812 million in Q1 last fiscal.
EBIDTA grew by 46% YOY at Rs 1853 million with strong EBIDTA margin of 32% for the quarter, against margin of 26.5% and EBITDA of Rs 1274 million, in Q1 FY 2016, after factoring forex loss of Rs 8.1 million and also includes losses for new editions of Bihar, which was not there in Qtr 1 of last year.
Radio business advertising revenues expanded by 30.5% YOY to Rs 281 million in Q1 of current period against Rs 215 million in Q1 of last fiscal. Digital business revenue grew by 22% to Rs 123 million from Rs. 101 million of corresponding quarter last fiscal.
D B Corp is all set to launch homeonline.com – a real estate portal with many new features from 1st August 2016. The company has been investing in the portal since last one year, with the aim towards integrating its strategy of protecting and covering its markets towards ensuring that its real estate market segment remains strong and protected.
MY FM 94.3 acquired 13 new radio frequencies and is all set to roll them out one-by-one starting August 1, 2016. This will give MY FM 94.3, large coverage in Maharashtra with 10 cities.
Commenting on the performance for Q1FY 2016-17, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “We are happy to report the success of these determined efforts this quarter and take this opportunity to thank all our associates for their trust that reinforces the Bhaskar value proposition. We are continuing to implement our editorial strategies aimed at content enrichment and product differentiation to engage strongly with readers and advertisers and several new creative additions are being offered to readers that have further established our products with stronger positioning. Simultaneously, we also continue to develop a high quality talent pool through Dainik Bhaskar School for Media Education to ensure a steady supply of quality editorial resource. We continue to be excited by the development of the radio and digital segments that have great growth capabilities and are on course. On an overall basis, the second phase of economic reforms indicates an optimistic way forward. Developments including the implementation of the 7th Pay Commission and good monsoons, will provide further impetus to the economy as well as the domestic consumption story.”