DB Corp Q2 Results: Profit declines 9.3% YoY to Rs 48.78 crore, revenue rises 20.5%

New Delhi: Media house DB Corp Ltd on Wednesday reported a 9.28 per cent decline in its consolidated net profit to Rs 48.78 crore for the second quarter ended on September 30, 2022. The company had posted a consolidated net profit of Rs 53.77 crore in the July-September quarter a year ago, DB Corp said in a regulatory filing.

Its revenue from operations was up 20.5 per cent at Rs 538.39 crore during the quarter under review as against Rs 446.79 crore in the corresponding period of the previous fiscal.

DB Corp's total expenses were at Rs 481.28 crore, up 27.25 per cent in Q2/FY23 as against Rs 378.21 crore.

Its revenue from "printing, publishing and allied business" was up 20.71 per cent to Rs 505.14 crore during the quarter as against Rs 418.45 crore of the corresponding period.

Revenue from the radio business was at Rs 33.47 crore, up 16.82 per cent, as against Rs 28.65 crore of Q2/FY22.

Commenting on the results DB Corp Managing Director Sudhir Agarwal said 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 said.

Clearly the pandemic has had an impact on our results in the quarter, but all our efforts, including embarking on cost-cutting programmes are intended not only to deal with the short-term need but also to ensure that the company is well-equipped, Agarwal added.

DB Corp is one of the largest print media companies and publishes five newspapers - Dainik Bhaskar, Divya Bhaskar, Divya Marathi, Saurashtra Samachar and DB Star. It also owns 94.3 MY FM Radio station.

Shares of DB Corp Ltd on Wednesday were trading at Rs 118.85 on BSE, down 2.22 per cent from the previous close.