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Media house DB Corp Ltd on Wednesday reported a nearly three-fold jump in consolidated net profit at Rs 122.52 crore for the fourth quarter ended March 31, helped by a broad-based growth across verticals.
The company had posted a consolidated net profit of Rs 41.02 crore in the January-March quarter a year ago, DB Corp said in a regulatory filing.
Its revenue from operations was up 16.23 per cent to Rs 617.13 crore during the quarter under review. It was at Rs 530.95 crore in the corresponding period of the previous fiscal.
The company said its total expenses in the March quarter was at Rs 480.23 crore, down 2.2 per cent.
Its revenue from "printing, publishing and allied business" was up 15.42 per cent to Rs 576.28 crore in the March quarter of financial year 2023-24.
While revenue from the radio business was at Rs 41.15 crore, up 29.28 per cent.
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"On a quarterly basis, Q4 FY24 saw broad-based growth for the 11th quarter in a row with 24.6 per cent growth in advertisement revenue to Rs 445.7 crore; EBITDA margin expanded by 1500 bps to reach Rs 196.7 crore (31 per cent margin) with 121.2 per cent year-on-year (YOY) growth and PAT saw 198.6 YOY growth to Rs 122.5 crore," said an earning statement from DB Corp.
For the financial year ended March 31, 2024 DB Corp profit went up over two-fold to Rs 425.52 crore. It was at Rs 169.08 crore a year before.
DB Corp reported consolidated revenue from operations for the financial year 2023-24 at Rs 2,402.08 crore, higher by 12.81 per cent.
DB Corp Managing Director Sudhir Agarwal said FY24 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," he said.
DB Corp is one of the largest print media companies and publishes five newspapers - Dainik Bhaskar, Divya Bhaskar, Divya Marathi, Saurashtra Samachar and DB Star. It also owns 94.3 in MY FM Radio station.
Meanwhile, in a separate filing DB Corp informed its board in a meeting held on Wednesday approved the payment of a third interim dividend of Rs 8 per equity share of face value of Rs 10 each for the financial year 2023-24.
Shares of DB Corp Ltd on Wednesday were trading at Rs 293.55 on BSE in the afternoon, up 5 per cent from its previous close.
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