DB Corp Q3 results: Net profit rises 21% to Rs 99 crore

Media house DB Corp Ltd on Thursday reported a 21.33 per cent rise in its consolidated net profit to Rs 99.03 crore for the third quarter ended December 2020.

The company had posted a consolidated net profit of Rs 81.62 crore in the October-December quarter previous fiscal, DB Corp said in a regulatory filing.

However, its revenue from operations slipped 17.4 per cent to Rs 494.32 crore during the quarter under review, as against Rs 598.74 crore in the corresponding period last fiscal.

Its revenue from printing, publishing and allied business declined 17.2 per cent to Rs 465.39 core during the quarter, compared to Rs 561.74 crore in the year-ago period.

Revenue from radio dipped 22 per cent to Rs 28.99 crore in the December quarter this fiscal, from Rs 37.15 crore a year ago.

"Advertising revenues are reclaiming pre-COVID levels, and with the festive season providing a strong impetus, we have reached print business advertising at 87 per cent of last year Qtr 3 with festival months of October and November together seen advertising revenue achievement of 95 per cent," the company said.

Its advertising revenue during the quarter stood at Rs 366.7 crore as against Rs 424.8 crore in the year-ago period.

DB Corp total expenses reduced by 26.4 per cent to Rs 363.29 crore in the third quarter, as against Rs 493.42 crore a year ago.

Shares of DB Corp Ltd on Thursday settled at Rs 80.10 apiece on BSE, up 0.95 per cent from the previous close.