DB Corp's Ad Revenue Grows 18.4% YoY In Q3 FY2023

DB Corp (DBCL) has released its financial results for the quarter and nine months ending December 31, 2023.

Q3 FY2023 benefitted from the festive season, elections and general economic buoyance. Advertising revenue registered a growth of 18.4 per cent YOY to Rs 4,819 million against Rs 4,069 million, rounding nearly 10 quarters of consistent growth.

Circulation revenue grew by around 3.4 per cent to Rs 1,200 million as against Rs 1,161 million. Total revenue grew around 15.5 per cent to Rs 6,648 million against Rs 5,756 million.

Radio business revenue grew 28.3 per cent  YOY at Rs 464.4 million versus Rs 362 million. Net profit grew 156.8 per cent YOY to Rs 1,240 million against Rs 483 million. EBIDTA margin expanded by 1400 basis points to 31 per cent from 17 per cent last year.

As per the latest Comscore report, Dainik Bhaskar App monthly users grew from 2 million in January 2020 to around 13 million in December 2023.

The average cost for newsprint has reduced from the high of Rs 63,500 PMT in Q2 FY2023 to around Rs 51,500 PMT in Q2 FY2024 and now to Rs 50200 PMT in Q3 FY2024 resulting in a newsprint cost reduction of 18.3 per cent YoY. Newsprint prices are expected to soften further in ensuing quarters.

Commenting on the performance for Q3 FY2024, Sudhir Agarwal, managing director, DB Corp, says, “Dainik Bhaskar’s leadership position in the print media sector is exemplified by a track record of strong growth outperformance for nearly 10 quarters now, making it the torchbearer of growth for the sector. We are encouraged by our readers, advertisers and partners who continue to repose trust in us and use our platforms of print, digital and radio to amplify their messaging.”

“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,” he adds.