DB Corp Q2 results: Net profit falls 62% to Rs 28.52 crore

New Delhi: Media group DB Corp on Wednesday reported a 62.26 per cent fall in consolidated net profit at Rs 28.52 crore in the second quarter ended on September 30, 2020, on account of lower revenue from operations. The company had reported a net profit of Rs 75.57 crore in the July-September quarter a year ago.

Revenue from operations during the quarter under review was down 34.82 per cent at Rs 346.36 crore as against Rs 531.39 crore in second quarter of 2019-20, DB Corp said in a regulatory filing.

The company publishes newspapers such as Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar.

Meanwhile, in a separate filing, DB Corp informed the BSE that its board approved the appointment of Santosh Desai as an additional director with effect from October 21, 2020 to hold the office as a non-executive independent director for a term of three years subject to the approval by the shareholders.

Desai is the Managing Director and CEO of Future Brands.

Shares of DB Corp were trading 0.66 per cent lower at Rs 75.30 apiece on the BSE.