DB Corp reports 11% dip in Q1 net to Rs 975.6 mn on forex loss of Rs 31 mn

The company's advertising revenue grew by 5% to Rs 4.54 billion in the June quarter

Media firm DB Corp on Thursday reported 11.39 per cent decline in consolidated net profit to Rs 975.6 million for the first quarter of the current financial year.

The company, which publishes Dainik Bhaskar newspaper, had posted a net profit of Rs 1.10 billion during the April-June period of last financial year.

DB Corp attributed the fall in profit to forex loss of Rs 31 million and circulation expansion strategy related non-recurring expenditure of Rs 58.6 million.

Its total income from operations during the April-June quarter of 2018-19 was Rs 6.39 billion, up 6.59 per cent as against Rs 5.99 billion in the year-ago period, DB Corp said in a BSE filing.

Its circulation revenue increased 10.3 per cent during the quarter under review to Rs 1.34 billion as against Rs 1.22 billion, primarily due to volume-driven growth.

The company's advertising revenue grew by 5 per cent to Rs 4.54 billion in the June quarter, as against Rs 4.33 billion a year ago.

DB Corp publishes newspapers including Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, and operates My FM radio station in 30 cities.

The stock was trading 0.08 per cent up at Rs 254 apiece on BSE.