DB Corp Limited announces the first quarter financial results
According to the report, DB Corp Ltd. retains position as the largest print media group amongst national dailies, with 15.8 million readers across India's fastest growing markets DBCL's expansion and consolidation initiatives are well under way. Dainik Bhaskar set to extend footprint in North India with the launch of Jammu edition in August, 2010. Dainik Bhaskar's Ranchi edition to be launched in August-September, 2010 Maintains leadership position in Madhya Pradesh, Chattisgarh, Chandigarh, Gujarat, Haryana, Punjab (JAL), and Rajasthan (U).
Radio business continues to scale up well ' reports 22.3% growth this quarter supported by a robust EBITDA growth of Rs. 15.9 million in Qtr 1 on YOY basis MY FM 94.3 emerged as no. 1 radio channel in 15 cities, according to a study, conducted by, Ormax research agency, an independent research agency. Dainik Bhaskar Group wins 5 positions at the 4th Indys Awards for Excellence in Mass Communication, Marketing Communication, Public Relations, Advertising and Branding.
Commenting on the performance for Q1 FY 2011, Sudhir Agarwal, Managing Director, DB Corp Limited said, "Our performance of the current quarter once again reiterates our optimism for the growing strength of regional print media and DBCL's endeavours and ability to leverage this potential. Several factors have contributed towards a growth-oriented performance, primarily comprising increased advertising revenues, supported by volume growth. Going forward, we expect factors such as ad yield improvement to contribute to our top line growth. Further, better than expected savings in news print costs will continue to contribute meaningfully towards enhancing operational efficiencies. During this quarter, we have also achieved favourable traction from corporate print ad categories as they continue to report significant growth. I am pleased with DBCL's progress in extending its national footprint and consolidating its leadership position, as we set to launch new editions in Jammu and Jharkhand in August. The radio business continues to scale up, favourably, evidenced by the 22.3% growth, demonstrated this quarter and has been ranked the No. 1 radio channel amongst most of the cities where it is present. Overall, DBCL continues to harness its strengths in the current markets whilst capitalising on new opportunities in under-penetrated regions. We are confident of our efforts and aim to enhance shareholder value through our regionalisation-focussed growth strategy."