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MUMBAI: DB Corp's net profit for the first first quarter ending
30 June fell to Rs 437 million, from Rs 611 million a year
ago.
Expenditure
rose to Rs 3.14 billion, from Rs 2.65 billion.
The
company, which publishes popular Hindi daily Dainik Bhaskar,
reported consolidated revenues of Rs 3.78 billion, representing
an increase of 7 per cent.
Revenues
from advertising clocked a marginal one per cent rise to Rs
2.86 billion from Rs 2.84 billion.
Advertising
revenues from the company's print business saw minor dip from
Rs 2.71 billion to Rs 2.70 billion in the current quarter.
Circulation revenue grew to Rs 656 million, enjoying a 16
per cent growth over the same quarter of corresponding fiscal.
Commenting
on the result, D B Corp MD Sudhir Agarwal said, "A challenging
economic environment driven by weak GDP numbers continues
to plague growth across key industries which in turn has impacted
overall media spend. In this quarter, we focussed our strategy
of on maintaining our positions in all markets. We studied
the environment well and adopted a two-pronged strategy to
be aggressive on retaining our readership base and maintaining
a very prudent approach towards expenditure control and and
cost rationalisation across all operations and in non-core
markets. Further, our progress in key regions like Aurangabad
and Nashik in Maharashtra and in Jharkhand showed very encouraging
results, proven by strong subscription renewal of copies after
one year completion of launch of edition."
DB
Corp's radio business net revenue increased to Rs 140 million,
from Rs 125 million, due to improved advertising revenues.
Net
profit from print business stood at Rs 455 million while that
of radio business at Rs 4 million.
The
company's Ebitda margin came down from Rs 1 billion Q1 FY'12
to Rs 849 million in current quarter due to forex loss.Print
business Ebitda stood at 23.2 per cent at Rs 840 million due
to expenses incurred in marketing and launch related expenses.
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