D B Corp's total revenues increase by 17% in FY 2013-14
Advertising revenues grew by 17.4%, digital media ad revenue grew by 54%, and radio business ad revenue grew by 19.2 %
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, announced its financial results for the fourth quarter and full year ended March 31, 2014. The highlights of the Company’s operational and financial performance are as follows:
Highlights of consolidated FY 2013-2014 results are as follows:
- Advertising Revenues grew by 17.4 per cent to Rs 14,178 million as against Rs 12,075 million in the same period last year.
- Total Revenues have increased by ~17 per cent to Rs 18,836 million, from Rs 16,137 million.
- EBIDTA Margins came in at ~28 per cent for FY 2014 at Rs 5,241 million, as against Rs 3,998 million (EBIDTA Margin 25 per cent)in the same period of last year, growing by 31 per cent YOY.
- DBCL clocked Profit After Tax (PAT) of Rs 3,066 million (Margin 16.3 per cent) from Rs 2,181 million (Margin 13.5 per cent) in the corresponding period last year, growing by ~41 per cent YOY.
- Radio Business ad revenue grew by 19.2 per cent to Rs 801 million from Rs 672 million
- Digital Media ad revenue grew by ~54 per cent to Rs 163 million from Rs 108 million of last year.
- Board has considered and recommended final dividend of Rs 4.25 per share for FY 14.
Highlights for Q4 2013-14 are as follows:
Consolidated Q4 FY 2013-14
- Revenues from advertising reported a growth of ~14.3 per cent YOY to Rs. 3,400 million in current period from Rs. 2,975 million in Q4 last fiscal
- Total Revenues have shown a growth of ~14 per cent YOY to Rs. 4,622 million in Q4 against Rs. 4,073 million of Q4 of last fiscal
- EBIDTA margin for the quarter came in at ~24.4 per cent at Rs. 1,127 million, against Rs. 1,032 million, in Q4 FY 2013. The same factors one time preoperative expenses of Rs. 39.5 million, on the launch of Bihar as well as Forex gain of Rs. 26.06 million.
- PAT margin stands at 16.4 per cent to Rs. ~759 million against Rs. 552 million, in Q4 of last year, grew by 37.4 per cent, (after consideration of digital media business demerger tax adjustment of Rs. ~149 million). The same factors one-time pre-operative expenses of Rs 39.5 million for Bihar launch as well as Forex gain of Rs 25.93 million.
- Radio business Ad Revenue grew by 17 per cent at Rs 215 million against Rs 185 million in Q4 FY 2013-14
- Radio business EBIDTA stands at Rs ~98 million (~46 per cent margin) in Q4 FY 2013-14
- Digital business revenue grew by ~95 per cent to Rs. 43 million from Rs. 22 million of last year.
Q4 FY 2013-14 financial results highlights: (comparisons with Q4 FY 2012-13)
Total Consolidated Revenues have expanded by around 14 % to Rs. 4,622 million from Rs. 4,073 million on account of:
Net Increase in print business Total Revenue of Rs. 472 million in Q4 FY 2014 on YOY basis
- Advertising revenues increase to Rs. 3,151 million from Rs. 2,779 million, reflecting a growth of ~13.4% YOY basis
- Circulation revenues grew YOY to Rs. 839 million from Rs. 731 million, at ~15% YOY
Net increase of Rs. 30 million in revenues from radio segment in Q4 on YOY basis
- Revenues increased from Rs. 215 million to Rs. 185 million due to improved advertising revenues
Print business EBIDTA margins stand at ~24% at Rs. 1,042 million. The same factors our premarketing and launch related expenses of around Rs. 39.5 million in Q4 FY 2014 for Bihar launch which have been booked in the revenue account, instead of capitalizing or deferring the outlay for future quarters, considering the long term impact of these expenditures. The same also considers Forex gain of Rs. 26.06 million.
Print business PAT stands at Rs.~705 million (16% PAT margin), it includes onetime tax gain of Rs. 149 million on account of demerger of digital media business.
Commenting on the performance for Q4 & FY 2013-14, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “We have delivered a robust operating performance this year amidst a challenging market environment. Our focus on sustaining and extending leadership in core markets, consistent focus on operational efficiencies as well as strong performance across non-print segments have enabled us to report significant growth.”
“DBCL’s non-print media segments have been making strong headway as we report commendable developments across our digital and radio properties. We have been leveraging our leadership strengths in print media - extending our editorial excellence and deep readership insights to make steady progress across digital and radio platforms. We are excited with the potential of post Phase 3 licensing and are well poised to strengthen our radio footprint. While the macro outlook does remain undefined, we are hopeful that, as we move towards political certainty, the consumer sentiment will become more positive and result in better growth across sectors. I am confident that with our clear strategic focus, strong business fundamentals, superior execution capabilities supported by a talented team, we will strive towards our vision to be the largest and most admired media brand as well as active socio-economic change agents,” he added.
The highlights of the Company’s operational and financial performance are as follows:
- DB Corp Ltd. remains a highly respected regional news daily by 19.8 million readers across India’s fastest growing markets
- Dainik Bhaskar continues to be the largest read newspaper of urban India, retains its market position in legacy markets while also strengthening presence in emerging regions
- Has maintained leadership position in legacy markets of Madhya Pradesh, Chhattisgarh, Chandigarh, Punjab, Haryana (CPH), urban Rajasthan, urban Gujarat
- Maharashtra - Divya Marathi maintains strong growth momentum across all 7 editions.
- Bihar – Dainik Bhaskar’s launch in Bihar garnered an overwhelming response to an exciting challenge in the region with established peers
- DBCL’s non-print media on high growth trajectory – continues to report significant improvement across digital (internet and mobile) and radio business segments
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