Rs 5 Dividend In Q2: Media Stock Falls 5.79% After Q2 Net Profit Slips 17% YoY, Buy?

Media stock D B Corp Ltd shares witnessed sharp decline of 5.79% in trade on October 15, 2024 after the company declared its net profit for the quarter ended September 30, 2024 slipped 17% to Rs 83 crore as against the net profit of Rs 100 crore declared in the year ago period. Last trading price of DB Corp Ltd shares on BSE stood at Rs 318.90 apiece. The company has a market capitalisation of Rs 5,681.44 crore. The company announced its revenue for the quarter under consideration declined 4.61% to Rs 559 crore as compared to Rs 586 crore announced in the similar quarter of last year.

The company's EBITDA dipped 20% to Rs 120.69 crore for September 30, 2024 quarter as against Rs 151.6 crore announced in the similar quarter of last year. Check details below:

D B Corp Ltd Recommends Dividend: As per the company's exchange filing dated October 15, 2024, "Second interim dividend of Rs. 5/- (Rupees Five only) per equity share of face value ('FV') of Rs. 10/- each (i.e. 50% of FV) [subject to Tax Deducted at Source] for the Financial Year 2024-25."

The company has already fixed October 25, 2024 as the record date for the purpose of ascertaining eligibility of shareholders for payment of second interim dividend for F.Y. 2024-25. The payment date of interim dividend will be on or before November 13, 2024.

D B Corp Ltd Shares Performance: The 52-week high price of D B Corp Ltd shares on BSE is Rs 405.00 per share (as on 16/07/2024) and 52-week low price is Rs 236.80 per share (as on 14/03/2024), respectively. DB Corp Ltd shares declined over 12% in last 1-week, fell over 17% in last 3-months, jumped over 20% so far in 2024, rose 7% in last 1-year, and soared 162% in last 2-years. In last 3-years, D B Corp shares rose 225%.

Should You Buy DB Corp Shares? According to A R Ramachandran, Independent SEBI Research Analyst, "DB Corp is bearish on the Daily charts with strong resistance at 318.5 on the Daily charts. A daily close below support of 306 could lead to target of 268 in the near term."

About: D.B. Corp Ltd is engaged in publishing newspapers, radio broadcasting, offering integrated internet and mobile interactive services and event management. The media company's leading brands are Dainik Bhaskar (Hindi daily), Divya Bhaskar and Saurashtra Samachar (Gujarat daily) and Divya Marathi (Marathi daily). D B Corp Ltd. is present in 11 states in Hindi Market. Besides we are also present in 2 states in Gujarati language in Gujarat and Maharashtra and 1 state in Marathi language in Maharashtra.

Disclaimer: The stock has been picked from the brokerage report of AR Ramchandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.