Media firm DB Corp Q1 net profit down 16% at Rs 66.45 crore

NEW DELHI: Media firm DB Corp today reported a 16.01 per cent decline in its consolidated net profit at Rs 66.45 crore for the first quarter of 2015-16.

The company had posted a consolidated net profit of Rs 79.12 crore in the same period of the previous fiscal, DB Corp said in a filing to the BSE.

Net sales of the company stood at Rs 466.45 crore in the April-June quarter, down 3.24 per cent as against Rs 482.08 crore for the same period of the previous fiscal.

Total advertising revenue declined by 8 per cent to Rs 342.3 crore during the quarter under review from Rs 373 crore in the same period of the last fiscal, the company said.

However, its circulation revenue grew by 16 per cent to Rs 102.2 crore compared to Rs 88.5 crore in the corresponding quarter, a year ago.

DB Corp publishes eight newspapers with 65 editions in Hindi, Gujarati, English and Marathi including Dainik Bhaskar, Divya Bhaskar and Saurashtra Samachar.

The company's scrip were trading at Rs 308.05 apiece in the afternoon trade on BSE, down 3.73 per cent from its previous close.