DB Corporation has announced its financial results for the quarter and nine months ended December 31, 2023. The Total Revenue grew by around 15.5 percent to Rs 664.8 crore as against Rs 575.6 crore in similar quarter of previous year.
Advertising revenue registered stellar growth of 18.4 percent YoY to Rs 481.9 crore against Rs 406.9 crore, rounding nearly 10 quarters of consistent growth.
The Circulation Revenue grew by around 3.4 percent to Rs. 120 crore as against Rs. 116.1 crore in Q3FY23.
Further, EBIDTA margin continued to expand with 1400 basis points jump in quarter three for FY24 (31 percent Margin), leading to EBITDA growth of 101.7 percent YoY to Rs 203.1 crore against Rs 1,00.7 million.
Commenting on the performance for Q3 FY2024, Sudhir Agarwal, Managing Director, DB Corp said, “Dainik Bhaskar's leadership position in the Print Media Sector is exemplified by a track record of strong growth outperformance for nearly 10 Qtrs now, making it the torchbearer of growth for the sector.”
He added, “With a slew of positive events – Elections in our key markets, the Cricket world cup, General economic buoyancy in our markets and the festive season, our performance in Q3 FY2024 is a testament to all the efforts that we continue to put to deliver the best product, and with an omni-channel delivery mechanism working well, we believe that we should be able to extend our leadership position and fortify our financial position going ahead.”
