Dainik Bhaskar Group records Rs 5,461 mn revenue in Q2 FY23, up 21%

Dainik Bhaskar Group, India’s largest print media company and home to flagship newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar – has reported yet another quarter of strong results driven by a robust revival of economic sentiment in the markets that it operates in and on the back of well-established editorial prowess and proven circulation strategy.

The credibility of print media has caused a shift in the focus of advertisers from new age media back to traditional media, like Print. In a release issued, the Dainik Bhaskar Group stated that it has been a beneficiary of this shift as it offers clear advantages to the advertisers – an omni-channel delivery mechanism for high-quality content and, a well-trusted and respected brand in the high growth non-metro markets that provides a strong platform for bespoke advertising. As a result, the advertising revenues for H1 FY2023 have far surpassed the previous year with 51% growth YOY at Rs 7,181 million as against Rs 4,742 million in H1 FY2022. DB Corp’s Print advertising revenue in H1’ FY2023 has grown by 53% YOY.

The H1 FY2023 Net Profit grew 153% to Rs 798 million as against Rs 315 million in H1 FY2022, after considering forex loss of Rs 48 million.

Circulation Revenue grew by 2% to Rs 2,312 million as against Rs 2,265 million, while Total Revenue increased by 38% to Rs 10,464 million as against Rs 7,592 million. EBIDTA grew by 55% to Rs 1,715 million as against Rs 1,105 million after considering forex loss of Rs 42 million, aided by stringent cost control measures, and despite high newsprint prices and large digital business investment for future growth.

Performance highlights for Q2 FY2023

For the second quarter ended September 30, 2022, DB Corp’s Advertising Revenue recorded a growth of 26% to Rs 3,812 million as against Rs 3,029 million in Q2 FY2022, while Circulation Revenue stood at Rs 1,156 million, a slight dip from Rs 1,159 million in Q2 FY2022. Meanwhile, the Group’s Total Revenue grew by 21% at Rs 5,461 million as against Rs 4,513 million in Q2 FY2022.

EBIDTA stood at Rs 977 million as against Rs 1,054 million, considering Forex loss of Rs 25 million, aided by stringent cost control measures, and despite high newsprint prices and large digital business investment for future growth. Net Profit, too, saw a decline in Q2 FY2023 to stand at Rs 488 million as against Rs 538 million, after considering Forex loss of Rs 26 million.

Radio Business

DB Corp’s Radio business under My FM, registered Advertising Revenue of Rs 658 million in H1 FY2023, a growth of 49% from Rs 443 million in H1 FY2022. EBIDTA grew by 137% to Rs 201 million (EBITDA margin at 30%) versus Rs 85 million.

In Q2 FY2023, DB Corp’s Radio business saw a growth of 18% YOY in its Advertising Revenue to Rs 338 million versus Rs 287 million in Q2 FY2022. EBIDTA also saw a growth at 22% - from Rs 87 million to Rs 106 million (EBITDA margin at 31%) in this quarter.

Commenting on the performance for Q2 FY2023, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “While the last six months have been news-heavy with major geo-political events dotting the landscape, the Indian Economy with its large consumer base and growing manufacturing sector has shown signs of resilience and revival. Our Industry has been a beneficiary of this momentum and Dainik Bhaskar, being the industry leader, has led the way not only in financial results, but also for furthering the reversion-to-print trend which is being witnessed amidst digitisation of media.”

He further said, “Our editorial integrity has always been of paramount importance to us and that has been validated by the increase in advertisers across the spectrum – new age as well as traditional businesses. Our omni-channel news delivery platform, along with a well-oiled machinery on the circulation front, has propelled us to the #1 Indian language newspaper company. We continue to focus our energies in building a strong and resilient financial position to ensure that we are able to capitalise on all opportunities that come our way.”

Media
@adgully

News in the domain of Advertising, Marketing, Media and Business of Entertainment