ICICI Securities: DB Corp’s Circulation Normalising; But Advertisement Revenue Is Key  
Commuters walk past a newspaper vendor outside the Chhatrapati Shivaji Terminus railway station in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

ICICI Securities: DB Corp’s Circulation Normalising; But Advertisement Revenue Is Key  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

DB Corp Ltd.’s Q1 FY21 Ebitda loss has come in higher and advertisement revenues weaker than expected. However, circulation has been recovering fast and cost savings have helped the company reach positive Ebitda.

Advertisement revenue is still not out of the woods and is key to watch (Q3 FY21 would be critical for bounce-back).

DB Corp is yet to disclose key performance indicators on digital segment, but its efforts to drive direct volumes is appreciable. We would however wait to see the entire print before forming a view.

Dividend distribution policy remains unchanged (at 65% payout). Promoters’ plan to release pledged shares in 12 months should remove a persisting overhang.

Click on the attachment to read the full report:

ICICI Securities DB Corp Q1FY21 Results Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.