Shares of DB Corp Ltd jumped 5% and hit a 52-week high of Rs 403.90 on 16 July after the company announced its quarterly earnings for April-June. 

The company reported a 49% year-on-year increase in its consolidated net profit at RS 118 crore for the quarter under review from Rs 79 crore reported in the same quarter of the previous fiscal year. The company’s revenue from advertising increased by 8.4%, whereas the circulation revenue fell by 0.7%. 

The revenue of operations of the company during the quarter stood at Rs 590 crore, marking a 6.5% YoY increase from Rs 554 crore reported in the corresponding period of the previous fiscal. 

The earnings before interest, tax, depreciation and amortisation (EBITDA) during the quarter grew 42% YoY to Rs 165 crore, while the EBITDA margins during the quarter expanded to 28%. 

The Board of Directors of the company also declared an interim dividend of Rs 7 per share for the current fiscal year. The record date for the dividend has been set at 29 July 2024.

The management of the company said the Q1 results were impressive considering a dip in government billing due to the election code of conduct. However, the company will maintain a growth trajectory across radio, digital platforms, and print. 

At 3:30 pm, the shares of DB Corp shed all its early gains and closed 4.83% lower at Rs 364.20 on NSE.