DB Corp Limited (DBCL) has announced its financial results for the quarter and nine months ended December 31, 2021. The company's advertising revenue grew by 7.7% to Rs 395.1 crore as against Rs 366.7 crore, on a comparative higher base of last year. The total revenue grew by 10.6% at Rs 549.5 crore as against Rs 496.6 crore. Meanwhile, the Group's circulation revenue grew by 5.5% at Rs 114.1 crore as against Rs 108.2 crore.
DBCL is home to flagship newspapers - Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar.
Below are highlights of the financial report:
- Advertising Revenue grew by 7.7% to Rs. 395.1 crore as against Rs. 366.7 crore, on a comparative higher base of last year
- Circulation Revenue grew by 5.5% at Rs 114.1 crore as against Rs. 108.2 crore
- Total Revenue grew by 10.6% at Rs. 549.5 crore as against Rs. 4966 crore
- Net Profit stands at Rs 86.5 crore as against Rs 99 crore. Print Business Profit before Tax stands at Rs 134.7 crore
- Radio business: Advertising Revenue grew by 29.3%
Commenting on the performance for Q3 FY 2022, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “While the cases of Omicron are surging, the impact on the ground is much less severe as compared to the previous two waves, with a combination of vaccines, lower levels of hospitalisation and a reduction of the fear associated with Covid, helping in keeping the overall sentiment strong. The momentum that had started in the previous quarter has extended significantly in this quarter with the Group recording strong QoQ and YoY growth on a reasonable base."
"We are seeing renewed vigour in advertising revenues, with new categories starting to look towards Print for their ad spend, coupled with select traditional categories like Real Estate, Education, Jewellery that have bounced back to pre-Covid levels. The other large traditional sectors are beginning to show signs of revival and that underscores further growth potential. As the market leader in Indian Language Print, backed with strong editorial integrity, we are a natural choice for advertisers, both new age as well as the traditional as they look to create localised and targeted ad campaigns," Agarwal stated.
He further said, "Our focus in the past few quarters has been to create parallelly a strong digital footprint for Dainik Bhaskar group, and we are happy to report that our efforts are yielding results with our websites and apps showing remarkable growth in reader engagement. We are working hard to close the fourth quarter on a strong note and continue to work towards meeting the expectation of all our stakeholders.”
