Dainik Bhaskar continues its track record of strong quarterly results and reported strong growth across all segments, underscoring the powerful leadership position of the Group. Advertisement revenue registered stellar growth of 13% YoY to Rs 4,301-million against Rs 3,811-million, on a high base of last year. 

EBIDTA grew by 71.4% YoY to Rs 1,676-million against Rs 977-million. EBIDTA margin expanded by 1,000 basis points to 28% against 18%. Print Business EBIDTA margin stands at 30% in Q2FY24. 

PAT grew by 105% YoY to Rs 1,003-million against Rs 488-million. 

According to the company, the print media segment has now cemented its place as the most trusted source of news. As advertisers continue to reap benefits and see their sales increase through ad spends, they are increasing their budgets for print creating a virtuous cycle. 

Newsprint prices continued its downward trend in Q2FY2024 and based on the company assessment, it expects newsprint purchase prices to remain soft in the next few quarters. The company’s average cost for newsprint has reduced from the high of Rs 63,500-pmt in Q2FY23 to around Rs 56,500-pmt in Q1 FY2024 and now further down to Rs 51,500-pmt in Q2FY24 resulting in newsprint cost reduction of 16% YoY.

On the advertising front, traditional advertisers such as education, real estate, government, jewellery, health, etc continue to use print as their preferred medium. The auto sector is already seeing increasing ad spends, but the company sees a lot of headroom for future growth. 

On the circulation front, several initiatives undertaken to focus on retention, renewals and expansion of its reader base are delivering strong results. Dainik Bhaskar continues its targeted efforts to increase institutional sales, which helps foster visibility and further expansion. 

Sudhir Agarwal, managing director, DB Corp, said, “The Indian consumption story is continuing to fuel growth, with tier-II and beyond cities driving the expansion. Over the past few quarters, print media has been cemented as the most trustworthy medium and Dainik Bhaskar has been a strong component of that trust. This has resulted in robust growth in advertising revenues, and we are happy to see that trend continuing. Across sectors, advertisers are using our platform for hyperlocal advertisements to increase their returns. What really enthuses us is that even though the festive season for this year is entirely in Q3, our Q2 numbers have shown strong double-digit growth, highlighting the vast potential of the markets that we operate in. We look forward to a good festive and wedding season ahead with an estimated 3.5 million weddings that are likely to happen in November-December, spurring the local economies.”

He added, “As a market leader that has been at the forefront of innovation in the sector, our teams continue to work hard to not only maintain the pole position, but also extend our reach and improve our delivery. With an omni-channel mechanism in place resulting in eight continuous quarters of growth, we are confident that the next few quarters will extend our lead even further.”