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DB Corp Internet Loss Down To Rs 0.52 Cr For Q3-FY14; Revenue At Rs 5.25 Cr


DB Corp, the publisher of newspaper dailies Dainik Bhaskar, Divya Bhaskar, Saurashtra Samachar and Dainik Divya Marathi, has reported a loss before tax of Rs 0.52 crore in the Internet segment for the quarter ended December 31, 2013 (Q3-FY14). This is a significant improvement from Rs 1.88 crore loss in the same quarter last year and Rs 2.31 crore loss in the previous quarter.

The total Internet revenue for DB Corp was at Rs 5.25 crore for the quarter, registering a significant 63% growth from Rs 3.22 crore revenues in the same quarter last year and up 31.25% from Rs 4 crore in the previous quarter.

Pending Merger of Internet Business: 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 is still in the process of completing all the requisite formalities. DB Corp had received board approval for this in May 2013.

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 13 million unique visitors and a cumulative 395 million total pageviews. Citing comScore metrics, it also claims that users spent around 173 million minutes on a monthly basis on its properties and visited an average 14 pages per visit.

Portal Metrics Break-up: Dainikbhaskar.com claims to have registered 6.7 million uniques and 240 million pageviews for the quarter while Divyabhaskar.com claims to have registered 2.2 million uniques and 115 million pageviews for the quarter. Dailybhaskar.com also claims to have surpassed 4 million uniques during the quarter.

Other Highlights

– DB Corp continues to say it has a combined average daily readership of 19.8 million in the country, the same number it has been saying for the past two quarters. Dainik Bhaskar claims to be the largest read newspaper of urban India and claims to have leadership position in legacy markets like Madhya Pradesh, Chhattisgarh, Chandigarh, Punjab, Haryana (CPH), urban Rajasthan and urban Gujarat. Dainik Bhaskar also plans to shortly roll out a new edition from Patna.

– DB Corp has relaunched a tabloid newspaper DB Star in nine new markets – Bhopal, Indore, Gwalior, Raipur, Aurangabad, Jodhpur, Ranchi, Dhanbad and Jamshedpur. DB Star has inked a content collaboration with British national daily tabloid newspaper Daily Mirror for English content.

– DB Corp currently publishes eight newspapers, 66 newspaper editions and 199 sub-editions in four languages (Hindi, Gujarati, Marathi and English) across 13 states in India. It also publishes DNA newspaper in Gujarat, Rajasthan and Madhya Pradesh on a franchisee basis.

– Total revenues up 19% year-on-year (YoY) to Rs 525.4 crore from Rs 442.9 crore in Q3-FY13.

– Profit After Tax (PAT) increased 34% YoY to Rs 94.5 crore from Rs 70.6 crore in Q3-FY13. The company notes this includes one-time pre-operative expense of Rs 4.47 crore for Patna-Bihar launch and forex gains of Rs 1.3 crore.

– EBITDA: 31% increase YoY to Rs 162.3 crore from Rs 123.9 crore in Q3-FY13. EBITDA Margin is at 31.3%

– Advertising revenues up 18.2% YoY to Rs 403.5 crore from Rs 314.2 crore in Q3-FY13. The company notes that this revenue excludes its barter and private treaty billing in Q3-FY13.

Print: Advertising revenue increased by around 18% to Rs 375.1 crore from Rs 318.4 crore in Q3-FY13, Circulation revenue increased by around 14% to Rs 83 crore from Rs 72.9 crore in Q3-FY13. PAT was at Rs 89.2 crore after considering a forex loss of 5.8 crore.

Radio Business: Ad revenues increased around 25% YoY to Rs 23.9 crore from Rs 19.2 crore in Q3-FY13. PAT was up 21% YoY to Rs 5.7 crore and EBITDA was up 54% YoY to Rs 11.3 crore. DB Corp currently operates the radio station My FM in 17 cities across 7 states.

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