DB Corp’s Cost Rationalisation Drives Q3 Earnings: ICICI Direct
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ICICI Direct Report
DB Corp Ltd.’s revenues fell 17.4% YoY to Rs 494.3 crore as prevailing Covid-19 situation continued to impact revenues.
Print and digital ad revenue dipped 12.9% YoY to Rs 337.6 crore while radio ad revenue also registered de-growth of 21.9% YoY to Rs 29.1 crore.
Circulation revenue fell 18.1% YoY to Rs 108.2 crore mainly due to lower circulation of copies. Ebitda was up 16.9% YoY to Rs 165.6 crore while margins at 33.5% were up 984 basis points YoY.
Operating performance improved on the back of cost control measures and soft newsprint prices. Hence, reported profit after tax was at Rs 99 crore, up 21.3% YoY.
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