D B Corp Q1 net profit jumps 62% to Rs 104 crore

Company publishes seven newspapers and operates 'My FM' radio station in 17 cities

Media firm DB Corp on Thursday reported 61.66% increase in consolidated net profit at Rs 103.95 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 64.30 crore in April-June period of the previous financial, DB Corp said in a BSE filing.

Net sales on consolidated basis were up 20.27% at Rs 561.01 crore as against Rs 466.45 crore in the corresponding quarter last financial year.

Revenue from newspapers and periodicals was up 19.64% at Rs 526.65 crore in the first quarter compared with Rs 440.19 crore in the same period a year ago.

Radio segment revenue rose 30.57% during the quarter to Rs 28.06 crore compared with Rs 21.49 crore last financial year.

DB Corp Managing Director Sudhir Agarwal said: "Over the past few quarters, we undertook several key initiatives to propel the company on a growth trajectory, which have started delivering results. We have been confidently implementing our yield strategy which has gained acceptance among advertisers."

The company's advertising revenue was up by 20.82% at Rs 413.6 crore during the quarter compared with Rs 342.3 crore in the same period of the last financial year, the company said.

DB Corp publishes seven newspapers including Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, and operates 'My FM' radio station in 17 cities.

Stock of the company ended at Rs 404, showing a rise of 2.33% on BSE.