Dainik Bhaskar reports 5.6% increase in circulation revenue in Q2 FY 2018-19

DB Corp (DBCL), India’s largest print media company and home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, on 25 October announced its financial results for the quarter-and-half-year ended 30 September 2018.

31 Oct 2018 | By Dibyajyoti Sarma

In the company’s performance highlights, circulation revenue has increased 5.6% YoY to Rs 1,318 million from Rs 1,248 million, primarily due to volume-driven growth. Total revenue has grown by 2.8% to Rs 5,875 million in current period from Rs 5,713 million in Q2 last fiscal. On an adjusted basis, total revenue grew by 12.8% YOY to Rs 5,875 million from Rs 5,207 million, after adjusting for last fiscal one off items as well festival season billing. EBIDTA stands at Rs 977 million (margin of 17%), against EBIDTA of Rs 1456 million, in Q2.

Meanwhile, in performance highlights for H1 FY 2018-19 consolidated, ad revenues reported a growth of 5% YOY to Rs 8,681 million in current period from Rs 8,297 million in H1 of last fiscal. On an adjusted basis, ad revenues reported 10% YOY growth (Rs 7,868 million H1 FY 2018) after adjusting for last fiscal’s festival season.

Total revenue reported growth of 5% at Rs 12,267 million in current period from Rs 11709 million in H1 last fiscal. Total revenue has registered 9.8% YOY growth (Rs 11,173 million H1 FY 2018) after adjusting for last fiscal one off items and festival season billing.  Circulation revenue has increased 8% YoY to Rs 2,664 million from Rs 2,467 million, primarily due to volume driven growth.

Meanwhile, Dainik Bhaskar has emerged as the Number Two newspaper in Bihar, as per the commissioned Bihar Readership Survey Report July 2018 by Hansa Research. This success has been achieved within a short span of time since it initiated its circulation expansion drive in Bihar. In addition, Dainik Bhaskar has also become the largest circulated paper in Rajasthan as per Audit Bureau of Circulations Jan-to-June 2018.

Sudhir Agarwal, managing director, DB Corp, said, “Our circulation strategy implemented in recent times continues to deliver results that are also driven by the parallel execution of several growth-led initiatives undertaken across all our pillar divisions. The results of our efforts are visible through Dainik Bhaskar’s progress in Bihar where in a short span of time, we have been able to build a second leadership position through strong on-ground execution.

He said the same operating philosophy is being aggressively implemented across all regions where the focus continues to remain on sharpening the company’s organisational strengths, leading market expansion and driving excellence, enabling it to strive harder in a rapidly evolving and competitive media environment. “As we progress, we expect the consumption and demand cycle to stablilise. Crude volatility and currency-led inflation seem to loom going ahead, but we will continue to manage our business dynamically while driving operational efficiencies. As our strategic campaigns play out well we look excitedly towards the second half of fiscal 2019, as we expand the frontiers of our vision, drive key areas of the business, act swiftly and efficiently on available opportunities, and address our customers’ needs with our full range of capabilities,” he added.