DB Corp posts 7.9 pc rise in Q3 profit at Rs 81.63 cr

New Delhi, Jan 23 () Media house DB Corp on Thursday reported 7.9 per cent increase in consolidated net profit at Rs 81.63 crore in the third quarter ended December 2019.

The company had posted a consolidated net profit of Rs 75.63 crore in the same quarter a year ago, DB Corp said in a regulatory filing.

Revenue from operations during the quarter under consideration stood at Rs 598.75 crore as against Rs 659.7 crore in the same quarter previous fiscal, it added.

The company said its board of directors at its meeting held on Thursday declared second interim dividend of Rs 3.5 per equity share of face value Rs 10 each.

During the third quarter, the company said revenue from printing, publishing and allied business stood at Rs 561.75 crore as compared to Rs 613.22 crore in the same quarter previous fiscal.

Radio business clocked revenue of Rs 37.15 crore as against Rs 46.5 crore in the year-ago period, it added.

DB Corp Managing Director Sudhir Agarwal said, "The present market conditions continue to be challenging on the back of weak consumer demand and a general economic slowdown."

However, he added that the company's innovative knowledge-driven product strategies and well implemented circulation expansion drive are yielding results.

On the revenue front, growth also continues to be challenging for the industry. However, softening newsprint prices is a silver lining, he added.

"This coupled with our cost-rationalisation measures has enabled us to improve profit margins," Agarwal said.

Going forward, he said, "we are optimistic about revival in consumer spending and better revenue scenario." RKL ANS ANS