Publishing company DB Corp announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Advertising Revenue grew by strong 24.6% to Rs 4,457 million as against Rs 3,578 million. Circulation Revenue grew by around 3% to Rs 1,187 million as against Rs 1,153 million Total Revenue grew by impressive 17.8% to Rs 6,418 million as against Rs 5,446 million. EBIDTA grew by 121.2% to Rs 1,967 million as against Rs 889 million aided by Advt revenue Growth with effective cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by 1500 basis points to 31% from 16% last year Net Profit grew by 198.6% YoY to Rs 1,225 million as against Rs 410 million. Radio business: Advt Revenue grew 32.5% YoY at Rs 426.6 million versus Rs 322 million EBIDTA grew by 71.2% YoY to Rs 144.2 million versus Rs 84 million FY24 Financial Highlights: Advertising Revenue grew by 18.2% to Rs 17,524 million as against Rs 14,827 million. Advt revenue witnessed absolute revenue growth of Rs 2,697 million Circulation Revenue grew by around 3.5% to Rs 4,791 million as against Rs 4,627 million Total Revenue grew by around 14.5% to Rs 24,821 million as against Rs 21,682 million. Total revenue witnessed absolute revenue growth of Rs 3,139 million EBIDTA grew by 94.7% to Rs 7,033 million as against Rs 3,611 million aided by Revenue growth coupled with effective cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by 1,100 basis points to 28% from 17% last year Net Profit grew by 151.7% YoY to Rs 4,255 million as against Rs 1,691 million. Radio business: Advt Revenue grew by 21% YoY at Rs 1,623 million versus Rs 1,342 million EBIDTA grew by 36.9% YoY to Rs 551 million versus Rs 402 million Commenting on the performance for Q4 FY2024, Sudhir Agarwal, Managing Director, DB Corp Ltd said, "Fiscal 2024 marks yet another year of continued growth for the Print Media sector in general and Dainik Bhaskar in particular. The momentum that has built over the past few quarters is a demonstration of the underlying strength of the medium. Apart from our Print business, our radio business continues this growth trajectory, digital business is also progressing as planned, and we are enthused by the immense potential of our omni-channel platform that is now firing on all cylinders. We are happy that we have built a strong platform of growth and are encouraged by the broad-based advertising revenues that we continue to attract. With India’s growth momentum going strong, we see a plethora of opportunities and going into the new financial year, we are hopeful to be able to continue this momentum and increase our leadership position and deliver growth to all stakeholders”. Result PDF
Conference Call with DB Corp Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
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