Publishing company DB Corp announced consolidated Q1FY24 results: Advertising revenue grew by 17.2% to Rs 3,946 million against Rs 3,368 million. Total revenue grew by around 15% to Rs 5,736 million as against Rs 4,994 million. Circulation revenue grew by around 4% to Rs 1,199 million as against Rs 1,156 million EBIDTA grew by a strong 84.2% to Rs 1,359 million as against Rs 738 million aided by stringent cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by impressive 900 basis points to 24% from 15% last year Net profit grew by an impressive 154% YoY to Rs 788 million against Rs 310 million. Radio Business: Revenue grew by 16.2 % YoY at Rs 372 million versus Rs 320 million EBIDTA grew by 23% YoY to Rs 115 million versus Rs 94 million Commenting on the performance for Q1 FY2024, Sudhir Agarwal, Managing Director, DB Corp said, “As global economies are making a slow recovery from their inflationary pressures, the Indian Economy, especially the non-metro markets continue to see rapid growth. The print sector has been on the uptrend for the past few months and this is likely to continue. Reputed agencies such as CRISIL peg this growth at about 15-17% on the back of strong advertising revenues, driven by Elections, Government Spending, and Consumer Demand across traditional and digital sectors while English language print has been struggling with sluggish demand, Regional newspapers seem to be faring better. Dainik Bhaskar, as the dominant leader, and India’s largest newspaper group, has a clear advantage. We attribute this to our continued editorial excellence, high reader engagement, and omnichannel delivery mechanism. Along with ad revenue growth, we have been focused on cost optimisation and over the last 4-6 months have also helped with easing newsprint prices. This has helped us deliver our fifth quarter of consistent growth across all segments and are confident of continuing this trend in the forthcoming quarters”. Result PDF