Company’s advertising & promotion expenses dropped to Rs 53.54 crore for the quarter ended June 30, 2023 against Rs 96.92 crore for the quarter ended June 30, 2022
During the Q3FY23 earnings call, Agarwal, DB Corp’s Non-Executive Director, shared that advertisers across the board are choosing Print for satisfactory returns on ad spends
SVP and CFO Ruth Porat noted that the company's revenue performance in the quarter was rooted in advertiser spend, elevated consumer online activity and Google Cloud
DB Corp Non-Executive Director Agarwaal said that the group's circulation revenue has reached 85-90% in Q3 and has even touched 100% of the pre-COVID level in certain markets
The network added that even amidst the absence of BARC ratings, its news biz has continued to grow stronger and digital news revenue rose over 50% YoY for the second quarter in a row
According to Tofler, the total income of the company has more than doubled to Rs. 2485.7 crore from Rs. 1255 crore, recording an approximate 100% growth over the previous year