There is very little information from DB Corp on its Internet business, post its acquisition of external shareholding in its Internet subsidiary I Media Corp Ltd (IMCL). The financial results of the company do not include any information on its Internet segment revenues; last quarter, Bhaskar Group’s non-executive director Girish Agarwal had said during the company’s earnings call that the group has registered Rs 3.1 crore revenue from its Internet business, up from Rs 2 crore revenues in the same quarter last year.

For the media company, which paid Rs 35.6 crore to acquire 45% stake in IMCL last year, thus consolidating the entire Internet businesses, the Internet segment apparently isn’t important enough to separate out: DB Corp’s financial results split revenues between “Printing and Publishing of Newspaper and Periodicals”, Radio, Event and Others. The “Others” segment reported revenues of Rs 3.18 crore for the quarter ending December 31st 2012, down from Rs 3.29 crore from the quarter ending September 30th 2012, and almost double of the Rs 1.7 crore reported for the same quarter last fiscal year.

IMCL is the digital arm of DB Corp and manages the group’s website and mobile properties which includes group portals like,,,,, and mobile properties like 54567 which allows users to send messages consisting of images, audio, text and video. For the year ended March 31, 2012 (FY12), the company had posted a total loss of Rs 6.55 crore, a significant  28.41% reduction from Rs 9.15 crore loss in FY11 and total revenues of Rs 6.99 crore, a 130.7% growth from Rs 3.03 crore revenues in FY11.

The companys press release states that its Digital business reported almost 100% growth in Q3 YOY, “on the strength of continuous impressive high volumes of unique visitors (UV) and page views per month. has been relaunched with greater emphasis on entertainment and local content. Dainik Bhaskar Bollywood Web Awards apparently reported pageviews of over 5 million.

In response to our queries about the company’s Internet business, DB Corp’s investor desk shared with us a press release from October that indicates that its group portals have registered 11 million monthly unique visitors per month and generate around 260 million pageviews per month, with reporting an average time-spent of 11.17 minutes. This is a marginal growth from the previous quarter (Q2-FY13), where it had reported 10 million unique visitors and 250 million monthly page views. The group also added that the average time spent by visitors stood at 11.17 minutes. On being asked for Internet segment revenues, the investor desk representative said that Internet accounts for less than 1% of the groups topline.

Group Financials

Overall, the group has reported total revenues of Rs 442.7 crore for the quarter, up 11.2% from Rs 398 crore in Q3-FY12. The profit after tax (PAT) stood at Rs 70.6 crore for the quarter, up 28% from 55.4 crore while EBITDA stood at Rs 123 crore, up 25.1% from Rs 98.3 crore in Q3-FY12. The EPS stood at Rs 3.85, up from 3.02 in Q3-FY12.

Print & Radio Business

The Print business registered a total revenues of Rs 416.8 crore for the quarter, up from Rs 372.8 crore in Q3-FY12. It registered a profit after tax of 67.8 crore for the quarter and EBITDA of 117 crore. While Advertising revenues for the print business stood at Rs 318.4 crore for the quarter, up 11% from 287.2 crore in Q3-FY12, the circulation revenue stood at Rs 72.9 crore for the quarter, up 16% from 63 crore in Q3-FY12.

The Ad revenues for the radio business stood at Rs 19.1 crore, up 21.6 % from Rs 15.7 crore in Q3 2012. It registered a profit after tax of 4.7 crore, up 113% YoY and an EBIDTA of Rs 7.3 crore, up 68% YoY. The company currently operates 17 radio stations across seven states including Madhya Pradesh, Chhattisgarh, Punjab, Gujarat, Rajasthan, Chandigarh and Maharashtra.


DB Corp Q2-FY13: Rs 3.1 Cr Internet Revenues; Rs 378.4 Cr Total Revenue
– DB Corp FY12: Rs 6.99 Cr Digital Revenues; Rs 6.55 Cr Loss
– DB Corp Q4-FY12: Rs 360.6 Crore Total Revenue; Ad Revenue Up 5.4% YoY