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 us one of the most widely read newspaper groups in India with presence in Madhya Pradesh, Chhattisgarh, Rajasthan, Haryana, Punjab, Chandigarh, Himachal Pradesh, Delhi, Gujarat, Maharashtra, Bihar and Jharkhand.

D.B. Corp registered a 11% rise in consolidated sales to Rs 659.71 crore for the quarter ended December 2018.

Advertising Revenues reported growth of 13% YOY to Rs 481.3 crore.

Circulation Revenue increased 3% YoY to Rs 130.1 crore.

OPM fell 240 bps to 21.2% which saw OP stagnant at Rs 139.73 crore.

Other income fell 50% to Rs 1.93 crore and interest cost grew 74% to Rs 1.92 crore. After providing for depreciation (up 7% to Rs 24.89 crore), PBT fell 4% to Rs 114.85 crore. Provision for taxation was down 4% to Rs 39.23 crore after which PAT fell 3% to Rs 75.63 crore.

Nine months results

For the nine months, it registered a 7% rise in consolidated sales to Rs 1874.18 crore.

Nine months Advertising Revenues grew 7.5% to Rs 1349.4 crore.

Circulation Revenue increased 6.3% to Rs 396.4 crore primarily volume driven.

OPM fell 530 bps to 21.3% which saw OP fall 14% to Rs 400.07 crore.

Other income fell 15% to Rs 14.12 crore and interest cost grew 42% to Rs 6.68 crore. After providing for depreciation (up 9% to Rs 74.31 crore), PBT fell 19% to Rs 333.20 crore. Provision for taxation was down 20% to Rs 113.82 crore after which PAT fell 18% to Rs 219.38 crore.

Segment results

For the quarter, sales of from the Printing and publishing of newspaper and periodicals Division grew 9% to Rs 589.46 crore and accounted for 89% of total. PBIT from the same fell 22% to Rs 92.52 crore and accounted for 80% of total.

For the nine months, sales of from the Printing and publishing of newspaper and periodicals Division grew 9% to Rs 589.46 crore and accounted for 89% of total. PBIT from the same fell 22% to Rs 92.52 crore and accounted for 80% of total.

For the quarter, sales of from the Radio Division grew 39% to Rs 46.51 crore and accounted for 7% of total. PBIT from the same jumped 161% to Rs 17.04 crore and accounted for 15% of total.

For the nine months, sales of from the Radio Division grew 17% to Rs 115.79 crore and accounted for 6% of total. PBIT from the same jumped 98% to Rs 29.97 crore and accounted for 9% of total.

For the quarter, sales of from the Event Division grew 188% to Rs 9.78 crore and accounted for 1% of total. PBIT from the same jumped to Rs 4.12 crore against a loss of Rs 28 lakh and accounted for 4% of total.

For the nine months, sales of from the Event Division grew 3% to Rs 14.54 crore and accounted for 1% of total. PBIT from the same fell 3% to Rs 5.46 crore and accounted for 2% of total.

For the quarter, sales of from the internet Division fell 8% to Rs 14.09 crore and accounted for 2% of total. PBIT from the same jumped to Rs 1.41 crore against a loss of Rs 4.94 crore and accounted for 1% of total.

For the nine months, sales of from the internet Division stagnated at Rs 38.59 crore and accounted for 2% of total. PBIT loss from the same fell 91% to Rs 1.80 crore and accounted for -1% of total.

Radio business

For the quarter Radio business reported stellar performance.

Advertising revenues expanded 39% YOY to Rs 46.5 crore

EBIDTA grew 2x YOY to Rs 20.2 crore with EBIDTA margin of 43% against 29%.

PAT grew almost 3 times to Rs 11.2 crore

For the nine months Radio business advertising revenues expanded 17% to Rs 115.9 crore. Radio business EBIDTA grew 60% to Rs 39.3 crore. PAT grew 102% to Rs 19.7 crore

Digital business – Gaining traction

Digital business turned EBITDA positive on the back of renewed focus on business profitability.

Quarter revenue for the quarter stood at Rs 14.1 crore against Rs 15.4 crore.

Nine months Digital business revenue stands at Rs 38.7 crore.

The stock trades at Rs 178.