Mumbai: DB Corp Limited, India’s largest print media company, has announced its financial results for the quarter and half year ended September 30, 2024. The company reported a 12% year-on-year (YoY) growth in profit after tax to Rs 2004 million and a 10% YoY growth in EBITDA to Rs 3351 million.
Key Performance Highlights:
Revenue Growth: The company’s revenue from operations grew by 8% YoY to Rs 13,341 million, driven by a 10% growth in advertising revenue and a 6% growth in circulation revenue.
Digital Business Growth: The company’s digital business showed a strong growth, with a 20% YoY increase in revenue.
Operating Profit Margin: The company’s operating profit margin expanded by 100 basis points to 25.2%, driven by cost optimization initiatives and a favorable product mix.
Net Profit Margin: The company’s net profit margin also improved by 100 basis points to 15.1%.
Circulation Revenue: The company’s circulation revenue grew by 6% YoY to Rs 4,321 million, driven by a strong growth in subscription revenue.
Advertising Revenue: The company’s advertising revenue grew by 10% YoY to Rs 8,020 million, driven by a strong growth in digital advertising revenue.
Digital Advertising Revenue: The company’s digital advertising revenue grew by 25% YoY to Rs 1,200 million, driven by a strong growth in online advertising revenue.
Financial Performance Highlights for Q2 FY2025:
Revenue from Operations: Rs 13,341 million, up 8% YoY
EBITDA: Rs 3,351 million, up 10% YoY
Profit After Tax: Rs 2,004 million, up 12% YoY
Operating Profit Margin: 25.2%, up 100 basis points YoY
Net Profit Margin: 15.1%, up 100 basis points YoY
Return on Equity (ROE): 22.1%, up 200 basis points YoY
Return on Capital Employed (ROCE): 24.5%, up 150 basis points YoY
Commenting on the performance for Q2 FY 2025, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “In Q2 FY25, we did not meet our revenue growth targets, primarily due to the extended monsoon season, which slowed market activity and consumer spending, and a high base effect – Q2FY24 was an exceptionally strong quarter bolstered by significant advertising driven by state elections filled environment. We believe will continue our growth trajectory in the coming quarters to meet our long-term growth strategy as we are actively adapting to current market conditions. Our Digital Business is thriving, with continued growth in MAUs to almost 20 million as of Aug’24, despite monetizing on a pilot basis.,
Our foundation for future success remains strong, built on our commitment to editorial excellence, continued broad-based support from advertisers, and the robust economic growth in our key markets. These factors position us well to capitalize on emerging opportunities. As India’s economic landscape evolves in the post-election period, we are confident in our ability to further cement our market leadership and continue to focus on enhancing value to our stakeholders.”
(Updated @7:15 PM with correction in title – instead of Q2 FY 2025, it was edited as H1 FY 2025)