D. B. Corp (DBCORP) Q4 09/10 earnings summary

Executive summary

• FY10 standalone revenue Rs 1,026.13 crore, up 10.05% YoY; EBITDA Rs 346.08 crore, up 113.89%, and PAT Rs 199.04 crore, up 190.67%.

• Consolidated revenue rose 10.61% to Rs 1,062.96 crore; consolidated PAT increased to Rs 182.80 crore from Rs 47.62 crore.

Financial highlights

• Standalone PBT reached Rs 304.76 crore versus Rs 111.32 crore; growth was attributed to higher revenue and lower operating costs.

• Advertising revenue rose 11.42% to Rs 777.59 crore; other income increased 28.23% to Rs 17.65 crore.

• Newsprint consumption cost fell nearly 20% to Rs 327.86 crore; operating expenses declined 10.25%, while employee costs were broadly stable.

• Financial expenses declined 30.3% to Rs 32.34 crore, attributed to loan repayments; depreciation rose 49.71% due to fixed-asset additions.

Outlook and guidance

• Pre-launch work began in Jharkhand, with plans for new projects at Ranchi and Jammu and expansion or modernization at other locations.

• Emerging editions were expected to take 3–4 years to stabilize; management anticipated longer-term benefits from the growth strategy after stabilization.

• Growth priorities include geographic expansion, local and regional markets, brand development, and packaged advertising across print and digital channels.