In the performance highlights, PAT reported a growth of 14.4% to Rs 2,509-million (margin of 14.4%) as against Rs 2194 million (margin of 11.6%) in 9M FY2019, after considering forex loss of Rs 35.3 million. EBIDTA registered a growth of 2.6% YOY to Rs 4,249 million (margin of 24%) as against Rs 4,142 million (margin of 22%) in 9M FY2019, margin expansion of 200 basis points.

According to the report, operating profit margin expansion was ably assisted by softened newsprint prices at Rs 38,158 PMT in Q3 FY 2020, down 16% YOY. The other cost efficiency measures are also yielding desired results

During the period, circulation revenue stood at Rs 3,921-million against Rs 3,964-million in 9M FY2019. Advertising revenue stood at Rs 12,338-million as against Rs 13494-million in 9M FY2019. Total revenue came in at Rs 17,465-million as against Rs 18,883-million in 9M FY2019.

Sudhir Agarwal, managing Director, DB Corp, said, “The present market conditions continue to be challenging on the back of weak consumer demand and a general economic slowdown. However, we are pleased that our innovative knowledge-driven product strategies and well implemented circulation expansion drive is yielding results. Dainik Bhaskar continues to garner market share in its newer markets while maintaining leadership position in its existing markets. Further, we are proud that Dainik Bhaskar is the only Indian news daily to feature amongst the world’s top three most circulated newspapers, in 2019, as per Wan-Ifra. Our consumer-centric focus, coupled with strong on-ground execution, has enabled us to build a position of strength that will help us capitalise on forthcoming opportunities.”

On the revenue front, Agarwal said growth continues to be challenging for the industry. However, softening newsprint prices is a silver lining. This, coupled with the company’s cost-rationalisation measures, has enabled the company to improve profit margins.

“Going forward, we are optimistic about revival in consumer spending and better revenue scenario. The government has been meeting stakeholders from the industry and we hope that these interactions manifest in support in the upcoming budget. Big ticket reforms such as corporate tax cuts as well as the expansion of the infrastructure drive are also likely to culminate in helping to kick-start the economy. We believe that our efforts in creating a strong base will help the Company and we continue to strive for a better performance,” he added.