DB Corp, the publisher of newspaper dailies Dainik Bhaskar, Divya Bhaskar, Saurashtra Samachar and Dainik Divya Marathi, has reported increased Internet revenues of Rs 4 crore for the quarter ended September 30, 2013 (Q2-FY14), up 25.8% from Rs 3.18 crore revenues in the same quarter last year and up 55.6% from Rs 2.57 crore in the previous quarter.
However, the loss before tax has also increased to Rs 2.31 crore, up from Rs 1.61 crore loss in the same quarter last year but an improvement from Rs 3.2 crore loss in the previous quarter.
Board Approval For Internet Business Demerger: DB Corp also informed that it has received board approval in May 2013 for the demerger of its integrated Internet and Mobile Interactive services business from its digital arm I Media Corp Ltd (IMCL) to merge it with the holding company DB Corp with effect from April 1, 2013 and the company is currently in the process of completing all the requisite formalities.
DB Corp had proposed this demerger in April 2013, after acquiring the remaining stake in IMCL and SMEL (Synergy Media Entertainment Ltd) from existing shareholders for Rs 37.97 crore in December 2012, making them wholly owned subsidiaries of the group.
DB Corp currently has online properties such as dainikbhaskar.com, divyabhaskar.com, dailybhaskar.com, divyamarathi.com and mobile property 54567 which allows users to send messages consisting of images, audio, text and video. The company claims that its group portals clocked 10 million unique visitors and a cumulative 350 million total pageviews, of which Dainik Bhaskar apparently accounted for 163 million pageviews and Divya Bhaskar apparently accounted for 67 million pageviews.
Need To Know
– DB Corp has a combined average daily readership of 19.8 million in the country, which is the same number as last quarter. Dainik Bhaskar claims to be the largest read newspaper of urban India and claims to have leadership position in Madhya Pradesh, Chhattisgarh, Chandigarh, Punjab, Haryana (CPH), urban Rajasthan and urban Gujarat. The company currently publishes 8 newspapers, 66 newspaper editions and 199 sub-editions in four languages (Hindi, Gujarati, Marathi and English) across 13 states in India.
– Total revenues up 16% year-on-year (YoY) to Rs 441.8 crore from Rs 382.3 crore in Q2-FY13.
– Profit After Tax (PAT) increased 24% YoY to Rs 60.2 crore from Rs 48.6 crore in Q2-FY13.
– EBITDA: 24% increase YoY to Rs 111.6 crore from Rs 90.1 crore in Q2-FY13.
– Advertising revenues up 17% YoY to Rs 329.7 crore from Rs 282.6 crore in Q2-FY13.
– Print: Advertising revenue increased by 18% to Rs 309.9 crore from Rs 263.6 crore in Q2-FY13, Circulation revenue increase 14% to Rs 79.6 crore from Rs 69.8 crore in Q2-FY13. PAT was at Rs 60.2 crore after considering a forex loss of 5.8 crore.
– Radio Business: Ad revenues increased 14% to Rs 17.5 crore from Rs 15.4 crore in Q2-FY13. PAT was at Rs 1.9 crore and EBITDA was at Rs 5.6 crore. DB Corp currently operates the radio station My FM in 17 cities across 7 states.
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