DB Corp net profit drops 13% on account of print advertising slowdown

DB Corp saw flat revenue growth in the September quarter from Rs 484.8 crore last year to Rs 483.6 crore this year. Profit after tax came down 13.2 per cent from Rs 6.8 crore in September quarter of 2015 to Rs 5.8 crore in corresponding quarter in 2016.

While circulation revenues grew 16 per cent to Rs 105.7 crore in the second quarter from from Rs 91.5 crore a year ago, advertising revenues took a hit on account of Navaratri festival dates in Q2FY15. Ad revenues dropped from Rs 361 crore last year to Rs 343.3 crore this year.

The drop in ad revenues was on account of reduced ad income in the print medium as digital and radio showed growth in ad revenues of 82.5 per cent and 5.3 per cent.

Ebitda dropped 7.9 per cent from Rs 127.1 crore in to Rs 117.1 crore in the quarter under considering on account of forex loss and Bihar edition launch pre-operative expenditure of Rs 2.77 crore.