Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
DB Corp
DB Corp reported strong set of numbers on both the top-line and earnings front. While
consolidated top line grew by 24% yoy/16% qoq to `348cr (`281cr/`301cr), aided by strong
advertising revenue (29% yoy) on account of consolidation of festival season in 3Q, recurring
consolidated earnings grew by robust 33% yoy/23% qoq to `65cr (`49cr/`53cr), aided by a
decrease in interest expense (down 61.5% yoy/9% qoq, as the company repays its debt) and
an increase in other income (up 39% yoy/down 6% qoq). On the operating margin front,
while the company faced margin pressures yoy (down 111bp), sequentially margins
expanded by 136bp. The 132bp qoq decrease in staff cost aided margin expansion on a
sequential basis. The company continues to face gross margin pressure on account of
increased newsprint prices, with gross margins contracting by 55bp yoy and 65bp qoq.
We maintain Buy with a Target Price of `358, based on 21x FY2013E EPS of `17.
India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
DB Corp
DB Corp reported strong set of numbers on both the top-line and earnings front. While
consolidated top line grew by 24% yoy/16% qoq to `348cr (`281cr/`301cr), aided by strong
advertising revenue (29% yoy) on account of consolidation of festival season in 3Q, recurring
consolidated earnings grew by robust 33% yoy/23% qoq to `65cr (`49cr/`53cr), aided by a
decrease in interest expense (down 61.5% yoy/9% qoq, as the company repays its debt) and
an increase in other income (up 39% yoy/down 6% qoq). On the operating margin front,
while the company faced margin pressures yoy (down 111bp), sequentially margins
expanded by 136bp. The 132bp qoq decrease in staff cost aided margin expansion on a
sequential basis. The company continues to face gross margin pressure on account of
increased newsprint prices, with gross margins contracting by 55bp yoy and 65bp qoq.
We maintain Buy with a Target Price of `358, based on 21x FY2013E EPS of `17.
No comments:
Post a Comment