DB Corp Q4 FY22 total revenue up 4.3% at Rs 4,799 million

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 announced its financial results for the fourth quarter and financial year ended March 31, 2022.

The Group’s Print business’ operating margins stand strong at 26%, notwithstanding increase in newsprint prices, which is expected to settle down in the next couple of quarters. The circulation yields have been pegged significantly lower than the English counterparts, indicating strong headroom for potential increase in the Group’s yields, going forward. The EBITDA for the Print Business in FY22 grew YOY by around high teens. EBIDTA margin expanded by more than 100 basis points, despite newsprint price headwinds.

Performance highlights for FY2022 – Consolidated [All Comparisons with FY2021]

  • Advertising Revenue grew by 17.3% at Rs. 11,827 million as against Rs 10,084 million
  • Circulation Revenue grew by 9.9% at Rs. 4,558 million as against Rs. 4,146 million
  • Total Revenue grew by 17.5% at Rs 17,885 million as against Rs 15,222 million
  • EBIDTA grew by 1.1% at Rs. 3,228 million as against Rs. 3,193 mil

Print Business:

  • EBIDTA grew in high teens with EBIDTA margin expanded by 100 basis points to around 26%, despite newsprint prices headwinds
  • PAT grew by 0.8% at Rs 1,426 million as against of Rs. 1,414 million

Radio Business:

  • Advertising Revenue grew by 35.1% to Rs 1,122 million versus Rs 831 million last year
  • EBIDTA grew by 88% to Rs. 314 million versus Rs. 167 million

Performance highlights for Q4 FY2022 – Consolidated [All Comparisons with Q4 FY2021]

  • Advertising Revenue grew by 1.6% to Rs 3,134 million as against Rs 3,084 million, on a comparative higher base of last year
  • Circulation Revenue grew by 4.4% at Rs. 1,152 million as against Rs. 1,104 million
  • Total Revenue grew by 4.3% at Rs. 4,799 million as against Rs. 4,601 million
  • EBIDTA stands at Rs. 663 million as against Rs. 1,047 million, aided by stringent cost control measures and despite large digital business investment for future growth.

Print Business:

  • EBIDTA margin stands at 24% in spite of newsprint price increase
  • Net Profit stands at Rs. 245 million as against Rs. 619 million.

Radio business:

  • Advertising Revenue grew by 9.2% at Rs. 303 million versus Rs. 278 million
  • EBIDTA stands at Rs. 82 million versus Rs. 93 million

Commenting on the performance for FY2022, Sudhir Agarwal, Managing Director, DB Corp Ltd, said, “When the Covid-19 pandemic ravaged the country, we were extremely proud of our front-line team members who wanted to bring a sense of continuity and calm and reduce the stress of our readers. Our thoughtful editorial integrity coupled with strong on-ground reporting ensured that we were the #1 choice of readers in India and our current leadership position is a strong testament to our readers. The Digital Push to become an omni-channel news delivery powerhouse is amplified by the dominant #1 position that our Hindi and Gujarati News Apps command.”

“With record-breaking mega editions ushering in the revival of post covid ad spends, our broad spectrum of advertisers – small traders, hyperlocal content, large companies, MNCs and industry leaders all reposed faith in the Dainik Bhaskar Group and this has helped us generate strong returns for all our stakeholders with our Print Advertising Revenues reaching pre-Covid levels. The sustainable cost-cutting measures that we undertook coupled with the support of our readers as we increase cover prices has ensured that we end this financial year on a very strong position and are well-placed to forge newer milestones in the forthcoming quarters,” he added.

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