DB Corp, publisher of Dainik Bhaskar, Divya Bhaskar, Divya Marathi, and Saurashtra Samachar, has announced its financial results for the FY 2024-25 ending March 31 – delivering revenue of Rs 2421.2 crore, an EBITDA of Rs 627.0 crore and PAT of Rs 371.0 crore amid tough market conditions in the last quarter.
In FY 24-25, the company achieved a total revenue of Rs 2421.2 crore, slightly down from Rs 2482.1 crore in the previous financial year of FY24-25.
Advertising revenue stood at Rs 1689.9 crore as against Rs 1752.4 crore in FY 23-24. Circulation revenue was Rs 473.4 crore in FY 2024-25 as against Rs 479.1 crore in the last fiscal. EBIDTA was recorded at Rs 627.0 crore as against Rs 703.3 crore. Net profit stood at Rs 371.0 crore in FY 2024-25 compared to Rs 425.5 crore in FY23-24.
The company said it maintained a strong performance through the first nine months. However, the challenging global and resultant Indian market conditions in Q4 tempered its overall growth trajectory for FY 24-25.
In the last quarter (Q4) of FY 24-25, the total revenue stood at Rs 566.8 crore, down from Rs 641.8 crore in the same period last year, which was an election-driven period.
Advertising revenue in Q4 FY 24-25 was Rs 384.1 crore as against Rs 445.7 crore in Q4 of FY 23-24. Circulation revenue was Rs 117.2 crore as against Rs 118.7 crore. EBIDTA stood at Rs 101.7 crore as against Rs 196.7 crore. Net profit in Q4 FY 24-25 was Rs 52.3 crore as against Rs 122.5 crore in Q4 FY 23-24.
“The previous year’s election-driven high base also affected Y-O-Y comparisons. Notably, our circulation strategy proved successful, with impressive addition of copies across markets during the Q4 FY 24-25.” The increase in circulation numbers, the company said, highlighted the continued importance of the morning paper in the lives of readers. “Our dedicated editorial team continues to prioritize local issues and news stories that have the potential to affect our readers’ lives in the region.”
“Although advertising revenues faced headwinds in Q4 FY 24-25, we are observing encouraging signs of recovery. We anticipate returning to our growth trajectory in the upcoming quarters,” the company said, adding soft newsprint prices, efficient cost management and favorable foreign exchange movement aided profitability throughout the past fiscal, with an impressive EBITDA margin of 26%. Print business EBITDA margin was recorded at 30% in FY 24-25.
Newsprint prices continued to be soft in FY 24-25, the company said. “Our average cost for newsprint was Rs 47,550 PMT in FY 24-25, down from Rs 51,900 PMT in FY 23-24, resulting in newsprint cost reduction of 13% YOY. As expected, newsprint prices remained stable in dollar terms in Q4 FY 24-25 and is expected to remain soft for the next few quarters, subject to dollar exchange fluctuation.”
Sudhir Agarwal, managing director, DB Corp, said, “Our full year results show a modest slowdown after three years of impressive growth trajectory, primarily due to comparison with last year’s election-driven fourth quarter surge and a cautious stance by advertisers in the fourth quarter. The standout achievement this quarter has been our rising circulation numbers, which validate the enduring power of print media and give us optimism for the quarters ahead. Our digital ecosystem continues to gain momentum, solidifying our integrated leadership across all platforms.”
“While global economic uncertainties linger, we expect India’s robust consumption-driven growth to continue in the near to medium term on the back of certain positive triggers like income tax benefit, implementation of the 8th Pay Commission, and the likelihood of a normal monsoon. We continue to remain focused on strengthening our market position and pursuing meaningful opportunities for expansion and innovation.”
