DB Corp reports 17.5% revenue growth in FY22

The Group continues to build on its circulation strategy to extend its leadership in the markets that it operates in. The innovation that the Group has brought to print media, coupled with its strong reader and trade connect initiatives through various marketing promotion tools has helped the company get the desired results of maintaining and growing profitability, increasing market share and providing a wider base to its advertising clients.

The company’s print business operating margins stand strong at 26%, notwithstanding increase in newsprint prices. Its circulation yields have been pegged significantly lower than its English counterparts, indicating strong headroom for potential increase in its yields, going forward. The EBITDA for the print business in FY22 grew YoY by around high teens. EBIDTA margin expanded by more than 100 basis points, despite newsprint price headwinds.

During FY2022, the company’s consolidated ad revenue grew by 17.3% at Rs 11,827-million as against Rs 10,084-million in FY2021. Circulation revenue grew by 9.9% at Rs 4,558-million as against Rs 4,146-million. Total revenue grew by 17.5% at Rs 17,885-million as against Rs 15,222 million.

EBIDTA grew by 1.1% at Rs 3,228-million as against Rs 3,193 million. Print Business EBIDTA grew in high teens with EBIDTA margin expanded by 100 basis points to around 26%, despite newsprint prices headwinds. PAT grew by 0.8% at Rs 1,426-million as against Rs 1,414-million.

Sudhir Agarwal, managing director, DB Corp, “When the Covid-19 pandemic ravaged the country, we were extremely proud of our frontline team members who wanted to bring a sense of continuity and calm and reduce the stress of our readers. Our thoughtful editorial integrity coupled with strong on-ground reporting ensured that we were the #1 choice of readers in India and our current leadership position is a strong testament to our readers.”

He added that this leadership position, coupled with a resurgence of traditional advertising has also enthused the team to bring innovative solutions to the advertising community. With record-breaking mega editions ushering in the revival of post covid ad spends, its broad spectrum of advertisers — small traders, hyperlocal content, large companies, MNCs and industry leaders all reposed faith in the Dainik Bhaskar Group. “This has helped us generate strong returns for all our stakeholders with our print advertising revenues reaching pre-Covid levels,” he added.