DB Corp net profits surge 50% YoY in June quarter; stock hits 52-week high

The share price gained after the print media firm reported a strong performance in the first quarter ending June 30, 2024, with a 49.68 per cent year-on-year (Y-o-Y) increase in net profit

Shares of DB Corp zoomed up to 5.53 per cent, hitting its 52-week high at Rs 403.90 per share on the NSE in Tuesday's early intraday deals. 

The share price gained after the media firm reported a strong performance in the first quarter ending June 30, 2024, with a 49.68 per cent year-on-year (Y-o-Y) increase in net profit, amounting to Rs 117.8 crore compared to Rs 78.7 crore in the corresponding period last year. 

The company's consolidated total income also grew by 6.8 per cent, reaching Rs 616.2 crore as compared to Rs 576.6 crore in the corresponding period of the previous fiscal.

 

The company’s total expenses dropped slightly by 2.3 per cent YoY at Rs 458.8 crore in the June quarter of FY24, down from Rs 469.9 crore reported in the same quarter last year.

Advertising revenue grew by 8.4 per cent to Rs 427.7 crore during the quarter under review as against Rs 394.6 crore in Q1FY24.

The media company’s circulation revenue stood flat at Rs 119.2 crore in Q1FY25 compared to Rs 119.9 crore in the corresponding quarter last year. 

At the operating level, earnings before interest, tax, depreciation, and amortisation (Ebitda)  grew by 40.4 per cent YoY to Rs 190.9 crore as against Rs 135.9 crore. Ebitda margin expanded by 700 basis points to 31 per cent in June from 24 per cent last year

Additionally, the company's board announced an interim dividend of Rs 7 per equity share (70 per cent on the face value of Rs 10 per share) for the financial year 2024-25. 

The media company has a total market capitalisation of Rs 6,752.17 crore, according to BSE. The company’s shares are trading at a price to earnings multiple of 16.02 times with an earning per share of Rs 6.61.

At 01:03 PM, shares of the media firm slipped into red and were trading 0.99 per cent lower at Rs 378.90 per share. In comparison, the NSE Nifty50 Sensex was trading 0.24 per cent higher at 24,645 levels. 

D B Corp Limited (DBCL), headquartered in Bhopal, Madhya Pradesh, is an Indian media conglomerate. With over 11,000 employees nationwide, DBCL operates across print, radio, and digital platforms. It publishes six newspapers, including Dainik Bhaskar, Divya Bhaskar, Divya Marathi, Saurashtra Samachar, DB Star, and DB Post, spanning Hindi, Gujarati, Marathi, and English languages.