Dainik Bhaskar reports drop in revenues, but remains No. 1 in circulation
DB Corp, one of India’s largest print media companies, has reported a drop in net profit and revenues in the first quarter of the financial year 2019-20. However, their flagship newspaper, Dainik Bhaskar, has maintained its position as the numero uno newspaper in terms of circulation.
25 Jul 2019 | By Aultrin Vijay
In the quarter ending 30 June 2019, the company posted a net profit of Rs 937 million, down 4% from Rs 976 million in the corresponding quarter of the previous year. The total revenue stood at Rs 6,112 million as compared to Rs 6,392 million last fiscal.
According to the media conglomerate, Dainik Bhaskar’s circulation expansion strategy has delivered strong results on account of increased market share. DB Corp has devised a print media campaign — Life Badal Jaayegi, Boss — featuring actor Salman Khan to further aid the circulation growth. The company also launched a mega scheme —Jeeto 21 crores — across 12 states with an aim to acquire new readers and retention of existing readers.
As per recent IRS survey, all Hindi newspapers adds 93.27 lakh new readers, where Dainik Bhaskar adds 63.55 lakh new readers; a growth of 13.71%, which was majorly seen in legacy markets of Madhya Pradesh-Chhattisgarh, Rajasthan, Haryana, Punjab and Gujarat, and in newer market of Bihar.
Commenting on the performance for Q1 FY 2019-20, Sudhir Agarwal, managing director of DB Corp said, “Despite the challenging macro environment, we are confident of our current strategies to deliver enterprise growth and building profitability aided by overall cost control and moderation in newsprint prices going ahead.”
“Our effort has delivered strong results and is reflected in the latest published readership and circulation numbers, by MRUC and ABC respectively. We continue to build our synergies and leverage the competitive strengths across each business segment,” Agarwal added.
He further said that with the formation of a stable government in the Centre, the semi-urban and rural consumption and demand cycle is expected to stabilise. “As the government continues with its efforts and initiatives to boost economic growth, with our execution excellence, we are confident to deliver the desired levels of growth,” he said.
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