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DB Corp Ltd. is India's largest print media company that publishes 6 newspapers with Dainik Bhaskar 37 editions, Divya Bhaskar 7 editions, & Divya Marathi 7 editions with 199 sub-editions in 4 multiple languages (Hindi, Gujarati, English and Marathi) across 14 states in India.
Its flagship newspapers Dainik Bhaskar (in Hindi) established in 1958, Divya Bhaskar and Saurashtra Samachar (in Gujarati) have a combined average daily readership of 19.8 million, making it one of the most widely read newspaper groups in India with presence in Madhya Pradesh, Chhattisgarh, Rajasthan, Haryana, Punjab, Chandigarh, Himachal Pradesh, Uttrakhand, Delhi, Gujarat, Maharashtra, Jharkhand and Jammu.
September 2017 quarter results
D.B. Corp registered a 5% growth in consolidated sales to Rs 568.33 crore for the quarter ended September 2017.
Advertising Revenues grew 6% to Rs 396.6 crore and Circulation revenue grew 8% to Rs 127.3 crore.
OPM fell 330 bps to 24.6% which saw OP fall 7% to Rs 139.90 crore.
Other income grew 38% to Rs 5.73 crore and interest cost jumped 267% to Rs 2.04 crore. After providing for depreciation (up 6% to Rs 22.86 crore), PBT fell 9% to Rs 120.72 crore. Provision for taxation was down 4% to Rs 42.06 crore after which PAT fell 11% to Rs 78.66 crore.
Six months results
For the six months, D.B. Corp registered a 4% growth in consolidated sales to Rs 1162.62 crore.
Advertising Revenues reported growth of 5.4% to Rs 830.1 crore. Circulation Revenue increased 6.5% to Rs 250.6 crore.
OPM fell 170 bps to 28.1% which saw OP fall 2% to Rs 326.28 crore.
Other income grew 53% to Rs 12.68 crore and interest cost fell 9% to Rs 3.60 crore. After providing for depreciation (up 5% to Rs 44.85 crore), PBT fell 1% to Rs 290.51 crore. Provision for taxation was up 1% to Rs 101.74 crore after which PAT fell 2% to Rs 188.77 crore.
Valuation
The share Price trades at Rs 361
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