D.B. CORP LTD
SECOND QUARTER RESULTS
SEPTEMBER 2014
Performance
highlights
Consolidated Q2 FY 2014-15
Total Revenues have shown a
growth of 9.2% YOY to Rs. 4838 million in Q2 against Rs. 4430 million of Q2 of
last fiscal
Revenues from advertising
reported a growth of 9% YOY to Rs. 3610 million in current period from Rs. 3311
million in Q2 last fiscal, on a high base of Qtr 2 of last year
EBIDTA margin for the quarter
came in at 26.3% at Rs. 1271 million, against Rs. 1116 million, in Q2 FY 2014
with YOY growth of 14%. The same factors forex loss of Rs. 18.2 million
PAT margin stands at 14.1% to
Rs. 681 million against Rs. 602 million, in Q2 of last year, with YOY growth of
13.2%. Due to new accounting guidelines, as per new company act 2013, company
has provided incremental depreciation of Rs. 50 million, in Q2 FY 15. The same
also factors Forex loss of Rs. 19.6 million
Radio business: Advertising
revenues have expanded by 33.3% to Rs. 228 million in Q2 of current period,
against Rs. 171 million in Q2 of last fiscal
Radio business EBIDTA stands
at Rs. 86 million (38% margin) in Q2 FY 2014-15
Radio business PAT stands at
Rs. 43.4 million (19% margin) in Q2 FY 15
Digital business Revenue grew
by 57% to Rs. 63 million from Rs. 40 million of last year
Digital business EBIDTA losses
reduced to Rs. 9.6 million from Rs. 22 million of last year H1 FY 2014-15:
Consolidated Total Revenues
have increased by 9.4% to Rs. 9825 million, from Rs. 8980 million
Consolidated Advertising
Revenues grew by 8.5% to Rs. 7340 million as against Rs. 6768 million in last
year under review
DBCL achieved Consolidated
EBIDTA Margins of 27.6% in H1 FY2015 at Rs. 2712 million
Consolidated PAT margin is
15%, at Rs. 1472 million, after considering incremental depreciation of Rs.
97.7 million, (as per new Accounting Guidelines) and forex loss of Rs.19.6
million
DB Corp Ltd. remains highly respected regional news dailies by 19.8 million
readers across India’s fastest growing markets.
Q2 FY 2014-15 financial
results highlights:
(comparisons with
Q2 FY 2013-14)
Total Consolidated Revenues have expanded by
9.2 % to Rs. 4838 million from Rs. 4430 million on account of:
Net Increase in print business Total
Revenue of Rs. 340 million in Q2 FY 2015 on YOY basis
Advertising revenues increase to Rs. 3319 million from
Rs. 3099 million, reflecting a growth of 7.1% YOY basis
Circulation revenues grew YOY 15% to Rs. 915 million from
Rs. 796 million
Net increase of Rs. 53 million in revenues
from radio segment in Q2 on YOY basis
Revenues increased from Rs.175 million to Rs. 228 million
due to improved advertising revenues
Print business EBIDTA margins stand at 26.3%
at Rs. 1195 million. The same considers Forex loss of Rs. 18.2 million
Print business PAT stands at Rs.646 million
(14% PAT margin)
Print Business Mature editions EBIDTA margin
stand at ~32%
An analysis and break-up of Mature and Emerging Editions
financials on a quarterly basis is given below. We classify emerging editions
as those which are below 4 years of age or profitable since last 4 quarters,
whichever is earlier
Particulars
|
Mature
|
*Emerging
|
Radio
|
Internet
|
DBCL
|
|
Q2FY15-
|
Editions
|
Editions
|
Business
|
Business
|
Standalone
|
|
RS-Mns
|
||||||
Total
Revenues
|
3979
|
566
|
228
|
63
|
4836
|
|
EBIDTA
before Pre-Opex
|
1267
|
-72
|
86
|
-10
|
1271
|
|
EBIDTA
Nargin
|
32%
|
-13%
|
38%
|
-15%
|
26%
|
|
EBIDTA
after Margin
|
1267
|
-72
|
86
|
-10
|
1271
|
|
EBIDTA
Margin
|
32%
|
-13%
|
38%
|
-15%
|
26%
|
*Almost all spill
over new printing centres / Editions, after completion of 2 years have been transferred
to mature editions with effect from Qtr 2, FY 14
About DB Corp Ltd
DB Corp Ltd. is India’s
largest print media company that publishes 7 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. Our 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, Uttrakhand, Delhi,
Gujarat, Maharashtra, Bihar, Jharkhand and Jammu. Our other noteworthy
newspaper brands are Dainik Divya Marathi, DB Star and, DNA (in Gujarat &
Rajasthan) on a franchisee basis. DBCL is the only media conglomerate that
enjoys a leadership position in multiple states, in multiple languages and is a
dominant player in its all major markets.
The company’s other business
interests also span the radio segment through the brand "My FM" Radio
station with presence in 7 states and 17 cities, and a strong online presence
in internet portals.
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