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Media house DB Corp on Tuesday reported 55.83 per cent decline in consolidated net profit at ₹24.05 crore for March quarter 2019-20 due to the impact of COVID-19. The company had posted a profit of ₹54.45 crore in January-March a year ago.
The company’s revenue from operations was down 17.30 per cent to ₹486.65 crore during the quarter under review as against ₹588.52 crore in the year-ago period.
“The nationwide lockdown led by the outbreak of COVID-19, caused an immediate disruption to businesses, impacting revenues towards the end of Q4FY20 and continuing in Q1FY21. However, the Group’s hard work over the years has ensured that our financial and market position remains strong to withstand such challenging time,” Managing Director Sudhir Agarwal said.
Total expenses of the firm were at ₹457.82 crore in March quarter 2019-20, down 10.31 per cent from ₹510.50 crore earlier.
Revenue from printing, publishing and allied business was at ₹455.04 core, down 17.23 per cent from the same period a year ago.
Revenue from the radio was at ₹31.82 crore, down from ₹38.77 crore in January-March 2018-19.
In 2019-20, DB Corp’s net profit was down 9.44 per cent to ₹247.97 crore. It was ₹273.84 crore in the previous year.
Revenue from operations in the last fiscal was ₹2,223.82 crore, down 9.69 per cent as against ₹2,462.70 crore in 2018-19.
Shares of DB Corp were trading at ₹76.95 apiece on BSE, down 2.16 per cent from the previous close.
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