| 09 Jun 2023
MY FM improved numbers for first quarter

BENGALURU: DB Corp Limited (DB Corp) radio business segment under the brand MY FM reported better numbers for the quarter ended 30 June 2018 (Q1 2019, quarter or period under review) as compared to the corresponding year ago quarter (Q1 2018, year ago quarter or period). The radio segment reported 1.7 percent year over year (y-o-y) increase in revenue in Q1 2019 as compared to Q1 2018. Radio segment operating revenue grew during the period under review to Rs 31.62 crore from Rs 31.15 crore in Q1 2018.

MY FM EBIDTA increased 26 percent y-o-y in the quarter under review to Rs 7.1 core (Rs 71 million) from Rs 5.6 crore (Rs 56 million) as per the DB Corp earnings release. Profit after tax (PAT) of the radio segment grew 59 percent y-o-y to Rs 2.6 crore (26 million).

The company says that radio phase 3 stations become profitable and turned EBIDTA positive, following the complete commissioning of all 13 stations, acquired under batch 1 of phase 3 during 2017. It says that profitability was achieved on the back of strong inventory management, programme profile, prudent cost efficiencies and growing popularity.

Print Segment Numbers

DB Corp has four segments: printing and publishing of newspaper and periodicals (print segment); radio business; events; and internet. Its print segment is the largest contributor to revenue and profitability. Radio is a second largest segment, but with less than a tenth of the revenue of DB Corp’s print segment. The other two segments are even smaller and hence their numbers have not been indicated in this paper.

The company reported 5.3 percent y-o-y growth for print advertisement during the quarter under review at Rs 411 crore (4110 million) as compared to Rs 390.2 crore (Rs 3902 millon) for Q1 2018. Print circulation revenue grew 10.3 percent y-o-y to Rs 134.5 crore (Rs 1345 million) in Q1 2019 as compared to Rs 122 crore (Rs 1220 million).

Overall Numbers

Overall, DB Corp’s consolidated operating revenue grew 6.7 percent y-o-y in Q1 2019 to Rs 632.38 crore from Rs 592.70 crore. Total income increased 6.6 percent y-o-y to Rs 639.22 crore in Q1 2019 from Rs 599.65 crore.  Consolidated EBIDTA including other income declined 9.6 percent y-o-y during the period under review to Rs 174.87 crore from Rs 193.34 crore. Consolidated PAT for the quarter declined 11.4 percent to Rs 97.57 crore from Rs 110.11 crore. Total consolidated income for the quarter reduced 11.4 percent y-o-y to Rs 97.57 crore from Rs 110.14 crore in Q1 2018.

Company Speak

Commenting on the performance for Q1 FY 2018-19, DB Corp managing director Sudhir Agarwal said, “This quarter our focus continued to be on ensuring successful implementation of our circulation expansion strategy, in markets across India that are responding well with the team’s complete focus on market expansion, editorial and impactful readership engagement efforts. As India’s largest news networks, we are in the process of assembling an exciting curation of editorial activities keeping in mind important developments with a wide public appeal. A detailed roadmap has been structured in association with industry stalwarts, which will help us deliver stimulating content for our readers. Our non-print businesses continue to progress well, building great value for readers, advertisers and the organisational triad.”

“The next five years are set to be the golden years for tier 2, 3 towns and DB Corp with its strong presence across these markets is in the best position to capitalize on these opportunities. With our legacy of execution excellence, we are excited, aggressive and totally committed to think and act much beyond our capabilities so that we can deliver the desired levels of growth. At a broader level, all positive signals such as GDP growth, government spending, SmartCity projects, etc. augur well towards a period of greater progress and advancement,” added Agarwal.