Media house DB Corp on Friday reported a 60.39 per cent decline in consolidated net profit at Rs 24.52 crore for the fourth quarter ended March 2022.

The company had clocked a net profit of Rs 61.91 crore in the January-March period a year ago, DB Corp said in a regulatory filing.

However, revenue from operations was up 3.36 per cent to Rs 471.96 crore during the quarter under review from Rs 456.60 crore in the year-ago period.

Total expenses were at Rs 446.38 crore as against Rs 388.42 crore.

Revenue from printing, publishing and allied business was up 2.91 per cent at Rs 442.15 crore. Revenue from the radio segment rose to Rs 29.96 crore from Rs 27.34 crore in the year-ago period.

Consolidated advertising revenue was higher 1.6 per cent at Rs 313.4 crore, while circulation revenue grew 4.4 per cent at Rs 115.2 crore.

For the entire financial year ended March 31, 2022, net profit was marginally up 0.8 per cent at Rs 142.55 crore as against Rs 141.41 crore in 2020-21.

Revenue from operation stood at Rs 1,768.54 crore in 2021-22. This was 17.30 per cent higher than Rs 1,507.70 crore in previous year.

DB Corp Managing Director Sudhir Agarwal said its print advertising revenues are reaching pre-Covid levels.

“The sustainable cost-cutting measures that we undertook coupled with the support of our readers as we increase cover prices have ensured that we end this financial year on a very strong position and are well-placed to forge newer milestones in the forthcoming quarters,” he said.

Meanwhile, in a separate filing DB Corp said its board has recommended a final dividend of Rs 3 per equity share of face value of Rs 10 each for 2021-22, subject to the approval of the members at the ensuing AGM of the company.

DB Corp, India’s leading print media company is home to newspapers including Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar.

On Friday, shares of DB Corp settled at Rs 82.50 apiece, up 0.06 per cent from the previous close on the BSE. PTI KRH SHW ANU ANU

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