Print media and radio firm DB Corp Ltd today reported 29 per cent decline in its consolidated net profit for the third quarter ended December 31, 2011 at Rs 55.35 crore, compared to same period previous fiscal due to forex losses and expenditure on new launches.
Net profit during the three months ended December 31, 2010 stood at Rs 77.82 crore, the company said in a statement.
The company’s net sales for the third quarter of the current fiscal increased 10 per cent to Rs 378.92 crore, as against Rs 344.44 crore in the year-ago period.
During the quarter the company suffered a forex loss of Rs 8.73 crore, while its advertising revenues increased 9 per cent year-on- year to Rs 30.59 crore.
Commenting on the firm’s the quarterly performance DB Corp Managing Director Mr Sudhir Agarwal said: “Despite a challenging macroeconomic environment, higher advertising revenues that has been a function of an expanding readership base, has enabled us to deliver a growth—oriented operating and financial performance.”
DB Corp publishes eight newspapers, including Dainik Bhaskar, Divya Bhaskar and Divya Marathi, with 64 editions, 191 sub editions in four languages in 13 states in India.
DB Corp share closed at Rs 183.60 per share on the BSE, down 0.33 per cent from the previous close on BSE.