DB Corp’s H1 FY25 profit up 12% to Rs 200 crore

DB Corp Limited (DBCL) today announced its financial results for the Quarter and Half Year ended September 30, 2024. Print and other business advertisement recorded Rs 360 crore in the period Q2 FY25, marking a 7.5% decrease when compared with Q1 FY25.

Print circulation revenue saw a 2.5% decline when compared to last year’s similar quarter, falling from Rs 120.5 crore to Rs 117.5 crore in one year.

On the brighter side, the publication has delivered advertisement revenue CAGR growth of 20% in last 3 year’s period from Rs 1008.4 crore in FY21 to Rs 1752.4 crore in FY24. Similarly, Profit After Tax (PAT) has delivered a 44% CAGR growth in last 3 years from Rs 141.4 crore in FY21 to Rs 425.5 crore in FY24.

But advertisement revenue remained flattish with 1% YOY growth to Rs 829 crore on an election led high base where the state elections driven environment boosted Ad revenue in H1 FY24 followed by a similar boost with the national elections in the H2 of FY24.

In the first half year of FY25, EBITDA margins expanded by 200 bps YoY to 27.8% and EBITDA stood at Rs 335 crore with growth of 10% YOY, on account of soft newsprint prices and reflecting efficient cost management. Profit After Tax saw a 12% YoY growth to Rs 200.4 crore, showcasing sustained profitability.

Newsprint prices continued to be soft in H1 of FY2025. The publication said, “Our average cost for newsprint has reduced to Rs 47450 PMT in H1 FY2025 from Rs. 54050 PMT in last year resulting in newsprint cost reduction of 18% YoY. Further newsprint prices are expected to remain soft at current levels in next few quarters.”

The Radio Business led industry growth with a 11% YoY increase in advertising revenue to Rs 80.1 crore and 250 bps rise in EBIDTA margin to 33% at Rs 26.4 crore.

On the digital front, their apps have registered a growth of 46%, rising from 1.07 crore users in January 2023 to approximately 1.95 crore in August 2024.