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DB Corp’s Internet business loss narrows to Rs 5.38 crore in Q3FY16

DB corp

Losses of the Internet business of DB Corp narrowed and the segment posted a loss before tax of Rs 5.38 crore for the quarter ended December 31 (Q3 FY16). The Internet segment had posted a loss before tax of Rs 6.91 crore in the preceding quarter.

DB Corp is the   the publisher of dailies such as Dainik Bhaskar, Divya Bhaskar, Saurashtra Samachar, Divya Marathi and DNA.

The Internet segment’s revenues in Q3 FY16 increased 32.16% year-on-year to Rs 12.13 crore from Rs 9.18 crore in Q3 FY15. On a sequential basis, the Internet revenues increased 6.43% from Rs 11.4 crore in the preceding quarter.

The Internet segment accounts for just 2.07% of DB Corp’s operational income which was at Rs 585.89 crore for the quarter. The company’s print business still dominates its operational revenues, accounting for 92.04% DB Corp’s operational income for the quarter.

Digital business highlights

– DB Corp announced that it is launching on Facebook’s Instant Articles.

– The company also launched a multilingual business app on iOS and Android. Dainik Bhaskar’s app has reached 5.9 million downloads on iOS, Android and Windows Phone platforms.

Other highlights

– Total revenues increased by 6% YOY to Rs 589.6 crore, from Rs 557.4 crore in the same quarter last year.

– Profit After Tax (PAT) increased marginally by 1.63% YOY to Rs 106.83 crore from Rs 66.45 crore in the same period last year.

Advertising Revenues grew 2% YoY  to Rs. 435.6 crore as against Rs. 428.3 crore in Q3 FY15.

– Radio business ad revenue grew by 26% YoY to Rs 32.3 crore from Rs 25.7 crore in Q3 of last fiscal. Radio business PAT stands at Rs 9.2 crore.

Download: Financials | Press release

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