ICICI Direct: DB Corp - Growth Outlook Remain Elusive
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ICICI Direct Report
DB Corp Ltd.’s revenues dipped 34.8% YoY to Rs 346.4 crore amid current Covid-19 led situation.
Print and digital advertisement revenue declined 37.8% YoY to Rs 226.3 crore while radio ad revenue also registered de-growth of 42.4% YoY to Rs 18.2 crore.
Circulation revenue fell 19.7% YoY to Rs 103.3 crore mainly due to lower circulation of copies.
Ebitda was down 27.8% to Rs 71.1 crore while margins at 20.5%, up 201 basis points YoY as the company benefitted from softened newsprint prices and cost rationalisation measures.
Consequently, reported profit after tax was at Rs 28.5 crore, down 62.3% YoY.
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