DB Corp Q2 Results: Profit Tumbles 17%, Dividend Announced

DB Corp's standalone net profit declined 17% year-on-year in the July–September quarter of the current financial year.

The newspaper group posted a profit of Rs 83 crore in the quarter ended Sept. 30. In the year-ago period, the company posted a profit of Rs 100 crore.

DB Corp.'s revenue during the quarter under review fell 4.61% to Rs 559 crore from Rs 586 crore in the corresponding quarter of the previous fiscal.

The earnings before interest, taxes, depreciation and amortisation fell to Rs 120.69 crore, whereas the Ebitda margin contracted 427 basis points in the same period to 21.59%.

DB Corp Q2 Results: Key Highlights (Standalone, YoY)

• Revenue from operations fell 4.61% to Rs 559 crore versus Rs 586 crore.

• Net profit decreased 17% to Rs 83 crore versus Rs 100 crore.

• Ebitda fell 20% to Rs 120.7 crore versus Rs 151.6 crore.

• Margin narrowed to 21.59% from 25.86%.

DB Corp Announces Dividend

DB Corp. announced on Tuesday a second interim dividend of Rs 5 per equity share of Rs 10 each of the company.

The dividend will be paid to the shareholders of the company on or before Nov. 13, according to an exchange filing. The record date for the interim dividend is set for Oct. 25.

DB Corp Share Price

The scrip fell as much as 6.92% intraday, paring losses to close 5.95% lower at Rs 318.55 apiece, as compared to a 0.28% decline in the benchmark NSE Nifty 50.

It has risen 20.53% on a year-to-date basis and was up 9.07% in the last 12 months.

Out of the four analysts tracking the company, two maintain a 'buy' rating and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 27.1%.

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