Media firm DB Corp today reported a 11.39 per cent decline in consolidated net profit to Rs 97.56 crore for the first quarter of the current fiscal. The company, which publishes Dainik Bhaskar newspaper, had posted a net profit of Rs 110.11 crore during the April-June period of last fiscal.
DB Corp attributed the fall in profit to forex loss of Rs 3.1 crore and circulation expansion strategy related non-recurring expenditure of Rs 5.86 crore. Its total income from operations during the April-June quarter of 2018-19 was Rs 639.21 crore, up 6.59 per cent, as against Rs 599.65 crore 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 134.5 crore as against Rs 122 crore, primarily due to volume-driven growth. The company’s advertising revenue grew by 5 per cent to Rs 454.9 crore in the June quarter, as against Rs 433.4 crore 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 the BSE.