DB Corp announces strong financial performance for Q4 & FY2024

DB Corp Ltd. (DBCL), India's largest print media company and and home to flagship newspapers such as Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, has announced its financial results for the quarter and financial year ended March 31, 2024.

Key Highlights:

Advertising Revenue Growth: Advertising revenue grew by Rs 2697 million or 18.2% to reach Rs 17524 million for the year. On a quarterly basis, Q4 FY24 saw a 24.6% increase in advertising revenue to Rs 4457 million.

Profitability Surge: Net Profit grew by a significant 198.6% YoY to Rs 1225 million for the year, and 198.6% for Q4 FY24 to Rs 1225 million.

EBITDA Expansion: EBITDA grew by 94.7% to Rs 7033 million for the year, and 121.2% for Q4 FY24 to Rs 1967 million, driven by revenue growth and cost control measures.

Print Business Strength: Print business EBIDTA margin stood at 33% in Q4 and 31% for FY24.

Digital Growth: The company's digital business continues to be a key focus area, with the Dainik Bhaskar App experiencing significant growth, reaching approximately 14 million monthly active users in March 2024.

Radio Success: The radio business witnessed strong growth with a 32.5% increase in advertising revenue for Q4 and a 770 bps rise in EBITDA to Rs 144 million.

Sudhir Agarwal, Managing Director, DB Corp Ltd, said: "Fiscal 2024 marks yet another year of continued growth for the Print Media sector in general and Dainik Bhaskar in particular. The momentum that has built over the past few quarters is a demonstration of the underlying strength of the medium. Apart from our Print business, our radio business continues this growth trajectory, digital business is also progressing as planned, and we are enthused by the immense potential of our omni-channel platform that is now firing on all cylinders. We are happy that we have built a strong platform of growth and are encouraged by the broad-based advertising revenues that we continue to attract. With India’s growth momentum going strong, we see a plethora of opportunities and going into the new financial year, we are hopeful to be able to continue this momentum and increase our leadership position and deliver growth to all stakeholders."