DB Corp Limited (DBCL), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, has announced its financial results for the quarter ended September 30, 2016.
During the quarter advertising revenues reported growth of 9% YoY to Rs. 3740 million in current period from Rs. 3433 million in Q2 of last fiscal, while circulation revenue has increased 11.5% YOY to Rs. 1179 million from Rs. 1057 million, primarily due to yield driven growth, largely growth has come from mature market.
Total revenue reported growth of 9.7% YoY at Rs. 5328 million in current period from Rs. 4858 million in Q2 last fiscal while EBIDTA grew by impressive 33.2% YoY at Rs. 1547 million with strong EBIDTA margin of 29% for the quarter; against EBITDA of Rs. 1162 million (margin 23.9%) Q2 of last year.
During this quarter Radio advertising revenues expanded by 24.6% YOY to Rs. 299 million in Q2 of current period, against Rs. 240 million in Q2 of last fiscal while Radio business EBIDTA delivered strong growth of 89.9% YoY at Rs. 152 million (50.9% margin), from Rs. 80 million last year. Radio business maintained highest EBIDTA margin amongst all Radio companies. Digital business revenue grew by 21% to Rs. 140 million from Rs. 116 million of corresponding quarter last fiscal.
Commenting on the performance for Q2 FY 2016-17, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “Our performance till date reflects a strong top line growth with an even better profitability growth despite a challenging market situation. We are also pleased to share that Dainik Bhaskar is probably the only newspaper in India to be ISO 9001:2015 certified for Quality Management Circulation Distribution Systems which acknowledges our commitment to efficient processes. As we grow, the following operational and strategic areas will continue to be important: maintain market share and consolidate our leadership, strengthen the Bhaskar brand recall in a competitive environment and fortify client relationships. We will also maintain a stringent control on operating efficiencies and processes which has played a defining role, engage more meaningfully with our communities and ensure that we actively leverage positive macroeconomic trends that will propel higher news consumption across platforms.”