DB Corp Q4 FY21 revenues decline, but net profit jumps by 158% YOY to Rs 619 mn

DB Corp Limited (DBCL), India’s largest print media company and home to flagship newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar – has reported a decline in its total revenues at Rs 4,601 million for the fourth quarter ended March 31, 2021, as against Rs 4,898 million in the corresponding quarter of FY2020.

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Both Advertising Revenues and Circulation Revenues also reported decline in Q4 FY2021. Advertising Revenues in Q4 FY2021 stood at Rs 3,084 million as against Rs 3,303 million in Q4 FY2020; while Circulation Revenues stood at Rs 1,104 million this quarter as against Rs 1,200 million in Q4 FY2020.

On the advertising front, during the year the Dainik Bhaskar Group published over 20 ‘Mega Editions’ across its major markets, which the Group claims received overwhelming response from advertisers, thereby re-affirming the Group’s strategy of operating in the Tier 2 and 3 cities and beyond. As a result of these efforts as well as cost rationalisation measures and soft newsprint prices, the EBITDA for the Print Business in Q4 FY2021 came in at Rs 1,122 million (with an EBIDTA margin of 26%) as against Rs 715 million (EBIDTA margin of 16%) million last year quarter and helped end the year FY2021 at Rs 3,582 million (with an EBIDTA margin of 25%) as against Rs 4,821 million (margin of 23%) in FY2020.

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The Group’s profit after tax (PAT) grew by 158% YOY at Rs 619 million in Q4 FY2021, as against Rs 241 million.

EBIDTA grew by 52% YOY at Rs 1,047 million (23% margin), as against Rs 690 million (margin of 14%).

Radio business

  • PAT stands at Rs 132 million versus PAT of Rs 34 million in Q4 of last fiscal
  • Advertising Revenue at Rs 278 million versus Rs 326 million
  • EBIDTA stands at Rs 93 million versus Rs 96 million

Commenting on the performance for FY2020-21, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “While we look back at fiscal 2021, it has been an extremely unprecedented year by all accounts. For the Print industry, it has also been a year of reaffirmation of the fact that the Indian reader is extremely discerning and values good editorial ethos. This also validates our core principle that we have been following for the last many decades - Courageous Journalism is difficult and if done well is the most sustainable path for the future.”

“It has also reaffirmed the changing dynamics of the Print Industry with Indian language newspapers doing significantly better than our English counterparts and outstripping them not only in circulation numbers, but in advertising revenues as well. We are happy to reiterate that the un-metro path chosen by our Founder and solidified by the Company over the past few years is continuing to fructify. Our digital efforts are also beginning to see traction and we are confident that we will continue to deliver quality journalism through all medium,” Agarwal added.

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