Media company DB Corp Ltd reported a 4.7% decline in consolidated net profit at Rs 118.2 million for the quarter ended December 2024 compared to Rs 124 million in the year-ago period. This was impacted by lower advertising revenue in the quarter.
Shares of DB Corp Ltd were trading down 2 ₹ (0.74%) at 267.70 on NSE at 2:10 pm today.
The company, publisher of Dainik Bhaskar newspapers, reported consolidated revenue of Rs 655.6 million in the third quarter of FY25, down 1.4% from Rs 664.8 million in the year-ago period. Advertising revenue decreased by 1.1% to Rs 476.7 million compared to Rs 481.9 million in Q3 FY24, which benefited from state election-related advertisements.
Operating profit (EBITDA) decreased by 6.4% to Rs 190.2 million compared to Rs 203.1 million in the year-ago period. EBITDA of the company’s printing business decreased by 7.2% to Rs 171.4 million.
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However, for the nine months ended December 2024, DB Corp posted its best ever performance with net profit up 5.2% to Rs 318.7 million. Revenue for the nine-month period increased by 0.8% to Rs 1,854.4 million and EBITDA increased by 3.7% to Rs 525.2 million.
The company’s radio business showed improvement, with advertising revenue increasing by 5.8% to Rs 4,920 crore in Q3 FY25. Radio advertising revenue for the nine-month period increased by 9% to Rs 128.7 million.
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DB Corp benefited from lower newsprint costs, falling 14% year-on-year to ₹47,600 per tonne in the nine-month period. The company said newsprint prices remained stable in the third quarter and is expected to remain soft in the coming quarters, subject to fluctuations in the dollar exchange rate.
The media company has seen significant growth in its digital presence, with the news app’s user base growing from 2 million in January 2020 to approximately 19 million in October 2024.
