D.B. Corp Ltd.'s share price fell after the company reported that its net profit decreased during October–December. Its consolidated net profit fell 4.6% on the year to Rs 118 crore from Rs 124 crore.
The net profit decline came on the back of a decrease in revenue and operating profit. D.B. Corp's consolidated revenue fell 0.3% on the year to Rs 643 crore from Rs 645 crore. Its operating profit declined 3.2% on the year to Rs 177 crore from Rs 183 crore.
D.B. Corp saw its margin declining 80 basis points to 27.6% during October–December. Its advertising and circulation revenues fell 1% and 1.11%, respectively, during the quarter.
Post third-quarter results, D.B. Corp share price fell 2.73% to Rs 262.35 apiece. It was trading 1.19% lower at Rs 266.50 apiece as of 1:03 p.m., as compared to 0.47% advance in the NSE Nifty 50 index.
The stock opened 1.48% higher at Rs 273.70 apiece. It rose 2.08% to the day's high of Rs 275.30 apiece before falling sharply.
The stock declined 14.96% in 12 months. The relative strength index was at 27.03, which implied the stock is oversold.
Out of three analysts tracking the company, two maintain a 'buy' rating, and one suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 49.1%.
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