DB Corp posts growth in consolidated revenues

The Board of DBCL has proposed interim dividend of Rs. 3.50 per equity share of face value of Rs. 10

BestMediaInfo Bureau | Mumbai | January 16, 2015

DB Corp (DBCL) has announced its financial results for the quarter and nine months ended December 31, 2014.The Board of DBCL has proposed interim dividend of Rs. 3.50 per equity share of face value of Rs. 10.

The consolidated total revenues for 9M 14-15 have increased by 8.3% to Rs. 1,540 crore, from Rs. 1,421.4 crore. Advertising revenues grew by 7.8% to Rs. 1,162.3 crore, as against Rs. 1,077.8 crore during corresponding period last year. The company also achieved EBIDTA margins of 29.8% in 9M FY2015 at Rs. 458.7 crore, from Rs. 411.5 crore (EBITDA margin 28.9%) of last year with Y-O-Y growth of 11.5%, after factoring forex loss of Rs. 1.99 crore.

The consolidated total revenues for Q3FY14-15 have shown a growth of 6.1% Y-O-Y to Rs. 557.4 crore in Q3, against Rs. 525.6 crore of Q3 of last fiscal. Revenues from advertising reported a growth of 6.2% Y-O-Y to Rs. 428.3 crore in current period, from Rs. 4,03.5 crore in Q3 last fiscal, which had a high base of Q3 of last year, benefitting from state election impact in Madhya Pradesh, Chhattisgarh and Rajasthan. PAT grew by 11.3% to Rs. 105.1 crore (PAT margin 18.9%), against Rs. 94.5 crore (PAT margin 18%), in Q3 of last year. The same factors forex loss of Rs. 1.96 crore and incremental depreciation of Rs. 6.57 crore, as per new Company Act 2013.

DB Corp remains the highly respected regional news daily with 19.8 million readers across India's fastest growing markets. The recent Audit Bureau of Circulation's result for six months period (Jan '14 - Jun '14) declared Dainik Bhaskar as the largest circulated national daily of India. It maintains leadership in legacy markets of Madhya Pradesh, Chhattisgarh, Chandigarh, Punjab, Haryana (CPH), Gujarat and urban Rajasthan. DBCL's non-print business continues to reflect strong growth – continues to harness its strengths in this era of growing influence of digital, mobile and social media.

Sudhir Agarwal

Commenting on the performance for Q3 & 9M FY 2014-15, Sudhir Agarwal, Managing Director, DB Corp, said, “This quarter we diligently focussed on three core areas: product, content and distribution, which demanded all our hard work and efforts. Through an exciting mix of a high-quality product led by innovative content, focus on better local news coverage in each region, various ground activation initiatives to intensify reader engagement, events to welcome greater corporate partnerships, have all contributed to improving our reach to readers across our legacy and emerging markets. We continue to progress well through Jharkhand, Bihar and Maharashtra, making good headway in the readership profiles of SEC A & B categories, particularly in Bihar and Maharashtra, even on the back of a higher cover price.”

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