During the period, the company’s advertising revenues reported a growth of ~5% YOY to Rs 4,336 million from Rs 4,136 million in Q1 of last fiscal, despite high base, continued demonetisation impact and pre-GST launch impact. Meanwhile, circulation revenue increased ~5% YOY to Rs 1,234 million from Rs 1,176 million, primarily due to yield driven growth.

The total revenue reported growth of ~4% at Rs 6,012 million in current period from Rs 5,787 million in Q1 last fiscal. EBIDTA grew by more than 4% YOY at Rs 1,933 million with strong EBIDTA margin of 32% for the quarter, against EBITDA of Rs 1,853 million, in Q1 FY 2016.

During the period, Dainik Bhakar becomes the nation’s largest circulated multi-edition daily as per Press in India Report 2015-16. Dainik Bhaskar also launched its Surat Edition during the period.

Sudhir Agarwal, managing director, DB Corp, said, “We’re pleased with overall results in the first quarter in spite of a higher base in the corresponding period of last fiscal which conveys that the DBCL team has been working hard to deliver success. We will continue to rigorously execute our strategy programme to further strengthen our innovation power, customer proximity and reader engagement efforts in all markets, as also our internal efficiencies. We have undertaken several strategic growth and expansion initiatives in all markets across print, digital and radio platforms and the current focus is on ensuring implementation, consolidation and monetisation of these endeavours. We are encouraged by our achievements and excited about the opportunities ahead as we continue to provide valuable platform to bring corporates closer to our readers.”

Agarwal added that the recent launch and implementation of GST will hae a positive impact for India in the long term as the country gradually transforms to improved tax compliance, administration, ease of doing business, unifying the national market, all of which will be positive for India's credit profile. “On an overall basis, an improvement in the global economy, stable commodity prices, normal monsoon prospects, positive impact of pay commission reforms are good signals that India is geared for strong growth going forward,” he said.