DB Corp Q2 net up 25% to Rs 60.2 cr, margin expands 180 bps
Net profit included one time preoperative expenses of Rs 2 crore on the the launch of Akola, Amravati in Maharashtra & Patna in Bihar and impact of forex loss of Rs 4.76 crore," the owner of regional daily Dainik Bhaskar says in its release.
October 18, 2013 / 08:35 IST
Moneycontrol Bureau
Print media company DB Corp's second quarter (July-September) consolidated net profit grew 25.4 percent year-on-year to Rs 60.2 crore, matching analysts' forecast.Net profit included one time preoperative expenses of Rs 2 crore on the launch of Akola, Amravati in Maharashtra & Patna in Bihar and impact of forex loss of Rs 4.76 crore," the owner of regional daily Dainik Bhaskar says in its release.The bottomline was impacted by higher tax expenses that climbed to Rs 33.22 crore frm Rs 25.05 crore during the same period.Consolidated total income increased nearly 16 percent to Rs 438 crore during September quarter from Rs 378 crore in a year ago period.A CNBC-TV18 poll had estimated that net profit would grow 27 percent to Rs 61 crore and revenues would increase 14.5 percent to Rs 433 crore in September quarter.Earnings before interest, tax, depreciation & amortisation (EBITDA) rose 25.6 percent on yearly basis to Rs 108 crore and operating profit margin jumped 180 basis points Y-o-Y to 24.6 percent in the quarter gone by. Analysts had expected the company to report EBITDA at Rs 106 crore and margin at 24.5 percent.Meanwhile, advertising revenues from its print business grew 18 percent year-on-year to Rs 309.9 crore and from its radio business, ad revenues expanded 14 percent to Rs 17.5 crore in the quarter gone by.At 15:26 hours IST, the stock was down 1.51 percent to Rs 247.05 amid hefty volumes on the Bombay Stock Exchange. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
