News: DB Corp revenues witnessed a muted growth of 3.4% YoY to Rs. 472 core, with muted Print & digital ad revenue at Rs. 283 crore, up 0.7% YoY while radio ad revenue also registered growth of 9% YoY at Rs. 30.3 crore, on a depressed base. Circulation revenue was up 4.3 YoY to Rs. 115.2 crore. EBITDA was 42.2% YoY to Rs. 58.4 crore while margins at 12.4% were down 977 bps YoY on the back of higher newsprint prices (up 36% YoY) leading to higher newsprint expenses by 30% YoY despite controlled pagination. Reported PAT was at Rs. 24.5 crore, was down 60% YoY.
Views: The impact of rising newsprint prices, for next few quarter, remains a key concern. The growth trajectory of print ad post normalisation does not have the visibility alongwith challenges in government ad for the company.
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