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Media firm DB Corp today reported 33.75 per cent rise in consolidated net profit at Rs 94.46 crore for the third quarter ended December 31, 2013.
The company had posted a consolidated net profit of Rs 70.62 crore in the same period of previous fiscal, DB Corp said in a filing to the BSE.
Total consolidated income from operation of the company stood at Rs 518.20 crore in October-December quarter, compared to Rs 438.88 crore during the same period of previous fiscal.
“We are pleased with the good start to this year as we report a healthy performance in the third quarter. ... we continue to maintain a pragmatic approach towards operational controls and higher efficiency,” DB Corp Managing Director Sudhir Agarwal said.
On future outlook, he said that DB Corp would continue to capitalise on the consumption potential of the Tier 2 and 3 cities.
“We have also been closely focusing on studying the marketing strategies of niche brands in Tier 2 and Tier 3 cities that have echoed our confidence in the potential of these regions,” he said.
Consolidated revenue from advertising grew 18.2 per cent to Rs 403.5 crore during the quarter as against Rs 341.2 crore in the same period last fiscal, the company said.
DB Corp publishes eight newspapers with 66 editions in Hindi, Gujarati, English and Marathi languages, including Dainik Bhaskar, Divya Bhaskar and Saurashtra Samachar.
The company’s shares today closed at Rs 306.20 on the BSE, up 0.31 per cent from previous close.
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