Media house DB Corp on Tuesday reported 55.83 percent decline in consolidated net profit at Rs 24.05 crore for March quarter 2019-20 due to the impact of COVID-19.

The company had posted a profit of Rs 54.45 crore in January-March a year ago, DB Corp said in a regulatory filing. Revenue from operations was down 17.30 percent to Rs 486.65 crore during the quarter under review as against Rs 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 Rs 457.82 crore in March quarter 2019-20, down 10.31 per cent from Rs 510.50 crore earlier. Revenue from printing, publishing and allied business was at Rs 455.04 core, down 17.23 per cent from the same period a year ago.

Revenue from the radio was at Rs 31.82 crore, down from Rs 38.77 crore in January-March 2018-19.

In 2019-20, DB Corp's net profit was down 9.44 percent to Rs 247.97 crore. It was Rs 273.84 crore in the previous year. Revenue from operations in the last fiscal was Rs 2,223.82 crore, down 9.69 percent as against Rs 2,462.70 crore in 2018-19.

Shares of DB Corp were trading at Rs 76.95 apiece on BSE, down 2.16 percent from the previous close.

First Published:Jun 23, 2020 2:32 PM IST