New Delhi: DB Corp Ltd., the parent company of the Dainik Bhaskar media group, reported a positive start to the fiscal year with an 8.4% increase in advertising revenue for the quarter ending June 30, 2024. This growth, reaching Rs 427.7 crore, comes despite a dip in government advertising due to election code restrictions.
Strong Advertising Revenue Drives Overall Growth
The company’s performance was bolstered by a robust market environment and effective cost control measures. This, combined with softening newsprint prices, led to a significant 40.4% increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) to Rs 190.9 crore compared to Rs 135.9 crore in the same period last year.
Radio Business Shows Steady Growth
DB Corp’s radio segment also witnessed positive growth, with ad revenue climbing 6.2% year-over-year (YoY) to Rs 38.6 crore. Similarly, radio EBITDA saw a 14.2% YoY increase to Rs 13.2 crore.
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Balancing Growth Across Quarters
While the overall results were positive, there was a slight decrease in print and other advertisement revenue compared to the previous quarter. The Q1 FY25 figure stood at Rs 389.5 crore, down from Rs 404.8 crore in Q4 FY24, marking a 3.8% decline. Additionally, consolidated operational revenue witnessed a 10.3% decrease from Q4 FY24 to Q1 FY25, dropping from Rs 77.4 crore to Rs 69.4 crore.
Management Expresses Optimism for the Future
Sudhir Agarwal, Managing Director of DB Corp Ltd., highlighted the company’s resilience in a statement, saying, “Our first quarter results are particularly impressive considering the dip in government billing due to the election code of conduct. We are maintaining our growth trajectory across our Print, Radio, and Digital platforms…”
Strong Digital Platform Poised for Further Growth
Mr. Agarwal emphasized the importance of the company’s digital platform, boasting 18 million monthly active users (MAUs), as a “powerful pillar of growth.” He attributed the company’s success to editorial excellence, continued advertiser support, and the strong economic performance of their key markets.
Looking Forward with Confidence
With India’s economic landscape expected to evolve post-elections, DB Corp remains confident in its ability to capitalize on new opportunities, solidify its market leadership, and deliver value to stakeholders.
