Print media firm DB Corp Thursday reported 4 per cent decline in consolidated net profit at Rs 93.72 crore in the first quarter ended June 30.
The company, which publishes newspapers such as Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, had reported consolidated net profit of Rs 97.65 crore in the year-ago period.
Total income during the first quarter stood at Rs 611.16 crore as compared to Rs 639.22 crore in the same quarter previous fiscal, DB Corp said in a regulatory filing.
Advertising revenues stood at Rs 442 crore as against Rs 454.9 crore in the first quarter last fiscal, it said adding circulation revenue was at Rs 131.4 crore as against Rs 134.5 crore in the corresponding period last fiscal.
Radio business revenue grew by 19 per cent to Rs 37.7 crore as compared to Rs 31.7 crore in the year-ago quarter, the company said.
DB Corp Managing Director Sudhir Agarwal said, "The company enjoys a dominant position in all its major markets of presence. To further strengthen our dominance, we continued with our efforts towards editorial and circulation expansion initiatives through this quarter as well."
He further said despite, the challenging macro environment, the company is confident of its current strategies to deliver enterprise growth and building profitability aided by overall cost control and moderation in newsprint prices going ahead.
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