DB Corp Q4 net profit falls about 16% to Rs 64 crore

Media firm DB Corp today reported 15.71% decline in consolidated net profit at Rs 63.99 crore during the fourth quarter ended March 31, 2015 due to higher tax expense.

The company had posted net profit of Rs 75.92 crore in the January-March period of the previous fiscal 2013-14, DB Corp said in a BSE filing.

Net sales of the company rose by about 7% to Rs 477.17 crore during the January-March period of the 2014-15 fiscal, from Rs 446.81 crore the year-ago period.

The performance took a beating as DB Corp's tax expense rose to Rs 39.22 crore during the fourth quarter of 2014-15 fiscal as compared to Rs 18.86 crore in the year-ago period.

For the financial year 2014-15, the company reported consolidated net profit of Rs 316.34 crore, marginally up from Rs 306.64 crore in the previous year.

Net sales during the full fiscal increased to Rs 1,979.18 crore from Rs 1,830.56 crore in 2013-14.

The company's Board has recommended a dividend of Rs 4.25 per equity share for the 2014-15.

DB Corp publishes newspapers in Hindi, Gujarati, English and Marathi. They include Dainik Bhaskar, Divya Bhaskar and Saurashtra Samachar. It has also presence in the FM Radio segment through 'My FM'.

DB Corp's stock was trading at Rs 355.35, down 2.05%, on the BSE.