DB Corp ad revenue up 5% YOY from H1 of last fiscal

Total Revenue has grown by 2.8% to Rs. 5875 million in current period from Rs.5713 million in Q2 last fiscal

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DB Corp Limited (DBCL), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, today announced its financial results for the quarter and half year ended September 30, 2018. The highlights of the Company’s operational and financial performance are as follows:

Performance highlights for Qtr 2 FY 2018-19 – Consolidated:

Strong ad revenue growth after adjusting impact of last year’s festival season

Circulation Revenue has increased 5.6% YoY to Rs. 1318 million from Rs. 1248 million, primarily due to volume driven growth.

Total Revenue has grown by 2.8% to Rs. 5875 million in current period from Rs.5713 million in Q2 last fiscal. On an adjusted basis, total revenue grew by 12.8% YOY to Rs. 5875 million from Rs. 5207 million, after adjusting for last fiscal one off items as well festival season billing.

PAT stands at Rs. 462 million (PAT Margin 8%), against Rs. 787 million (PAT Margin 14%), in Q2 of last year; considering forex loss of Rs. 62 million and circulation expansion strategy related non-recurring expenditure of Rs. 110 million.

Radio business: Advertising revenues expanded by 8.4% YOY to Rs. 377 million in Q2 of current period, against Rs. 348 million in Q2 of last fiscal. On adjusted basis, Radio delivered growth of 18%, after adjusting for last fiscal’s festival season billing.

Radio Business PAT grew by 47% YOY to Rs 58 million from Rs. 40 million last year.

Digital business revenue grew by 5% YOY to Rs. 119 million from Rs. 114 million.

Commenting on the performance for Q2 FY 2018-19, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “Our circulation strategy implemented in recent times continues to deliver results that are also driven by the parallel execution of several growth-led initiatives undertaken across all our pillar divisions. The results of our efforts are visible through Dainik Bhaskar’s progress in Bihar where in a short span of time, we have been able to build a second leadership position through strong on-ground execution. Dainik Bhaskar is also now the largest circulated paper in Rajasthan. The same operating philosophy is being aggressively implemented across all regions of our presence where our focus continues to remain on sharpening our organisational strengths, leading market expansion and driving excellence, enabling us to strive harder in a rapidly evolving and competitive media environment. As we progress we expect the consumption and demand cycle to stablilize. Crude volatility and currency led inflation seem to loom going ahead, but we will continue to manage our business dynamically while driving operational efficiencies. As our strategic campaigns play out well we look excitedly towards the second half of fiscal 2019, as we expand the frontiers of our vision, drive key areas of the business, act swiftly and efficiently on available opportunities, and address our customers’ needs with our full range of capabilities.”

Performance highlights for H 1 FY 2018-19 – Consolidated:

Advertising Revenues reported growth of 5% YOY to Rs. 8681 million in current period from Rs. 8297 million in H1 of last fiscal. On an adjusted basis Ad revenues reported 10% YOY growth (Rs.7868 million H1 FY 2018) after adjusting for last fiscal’s festival season.

Total Revenue reported growth of 5% at Rs. 12267 million in current period from Rs. 11709 million in H1 last fiscal. Total revenue has registered 9.8% YOY growth (Rs.11173 million H1 FY 2018) after adjusting for last fiscal one off items and festival season billing.

Circulation Revenue has increased 8% YoY to Rs. 2664 million from Rs. 2467 million, primarily due to volume driven growth. Over past five years [from FY 2012-13 to FY 2017-18] circulation revenue has delivered 13% CAGR growth.

EBIDTA stands at Rs. 2725 million (margin of 22%) against EBIDTA of Rs. 3390 million, in H1 FY 2018; after considering forex loss of Rs. 83 million and circulation expansion strategy related non-recurring expenditure of Rs. 168 million. Adjusting for circulation expansion related one-offs and forex loss for last year and this year; EBIDTA stands at Rs. 2977 million against Rs. 3008 million in H1 of last year.

PAT stands at Rs. 1438 million (PAT Margin 12%), against Rs. 1888 million (PAT Margin 16%), in H1 of last year; after considering forex loss of Rs. 93 million and circulation expansion strategy related non-recurring expenditure of Rs. 168 million.

Radio business: Advertising revenues expanded by 5.2% YOY to Rs. 694 million in H1 of current period, against Rs. 659 million last fiscal. On adjusted basis, Radio delivered growth of 10%, after adjusting for last fiscal’s festival season.

Radio business EBIDTA grew by 28% YOY to Rs. 191 million from Rs. 149 million.

Radio Business PAT grew by 51% YOY to Rs 85 million from Rs. 56 million.

Digital business revenue grew by 4.4% YOY to Rs. 245 million from Rs. 235 million.

 

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