D B Corp jumped 5.89% to Rs 373 at 15:20 IST on BSE after the company's consolidated net profit rose 13.2% to Rs 68.10 crore on 9.5% rise in total income to Rs 483.83 crore in Q2 September 2014 over Q2 September 2013.
The company announced Q2 results during market hours today, 16 October 2014.
Meanwhile, the BSE Sensex was down 308.07 points, or 1.24%, to 26,023.61.
On BSE, so far 1.14 lakh shares were traded in the counter, compared with an average volume of 14,441 shares in the past one quarter.
The stock hit a record high of Rs 393.25 in intraday trade. The stock hit a low of Rs 352.25 so far during the day. The stock hit a 52-week low of Rs 232 on 31 October 2013.
The stock had outperformed the market over the past one month till 14 October 2014, rising 4% compared with 2.63% fall in the Sensex. The scrip had, also outperformed the market in past one quarter, gaining 10.88% as against Sensex's 5.37% rise.
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The mid-cap print media company has an equity capital of Rs 183.60 crore. Face value per share is Rs 10.
Revenue from advertising reported a growth of 9% to Rs 36.10 crore in Q2 September 2014 over Q2 September 2013. EBITDA (earnings before interest, taxes, depreciation and amortization) margin rose to 26.3% to Rs 127.1 crore in Q2 September 2014 a growth of 14% over Q2 September 2013. Net profit margin stood at 14% to Rs 68.1 crore in Q2 September 2014, a growth of 13.2% over Q2 September 2013. Due to new accounting guidelines, as per new company act 2013, company has provided incremental depreciation of Rs 5 crore in Q2 September 2014.
Advertising revenue from radio business rose 33.3% to Rs 22.8 crore in Q2 September 2014 over Q2 September 2013. Digital business revenue rose 57% to Rs 6.30 crore in Q2 September 2014 over Q2 September 2013.
Pursuant to the approval of High Court of Madhya Pradesh, Principal seat at Jabalpur, received on 27 March 2014 and according to the Scheme of Arrangement, the Integrated Internet and Mobile Interactive Service business of l Media Corp (IMCL) a wholly owned subsidiary of the company was demerged and merged with the company with effect from 1 April 2013 (Appointed date). The company had recognised the demerger in the quarter ended 31 March 2014.
According to the provisions of the Scheme, along with assets and liabilities of Integrated Internet and Mobile Interactive Service business, the unabsorbed depreciation and brought forward losses (against which IMCL had not recognised deferred tax assets) till 31 March 2013 aggregating to Rs 43.95 crore were transferred to the company which were set off by the company while computing the current tax provision for the quarter and year ended 31 March 2014. This resulted in a net reduction of Rs. 14.94 crore in the current tax expense for the quarter and year ended 31 March 2014. Accordingly, the results for the quarter and six months ended 30 September 2014 are not comparable with the results for the quarter and six months ended 30 September 2013.
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