Diligent Media Corporation Q1 Results Decline with Total Revenue of ₹2.96 crores & Net Income ₹2.45 crores

Diligent Media Corporation Q1 Results: Diligent Media Corporation's Q1 results for June 2024 show a mix of performance indicators when compared to previous periods. Total revenue was ₹2.96 crores, which is a 95.59% increase year-over-year (YoY) from ₹1.51 crores in June 2023. However, there was a slight decline of 6.72% quarter-on-quarter (QoQ), as revenue decreased from ₹4.20 crores in March 2023. The company's selling, general, and administrative expenses dropped significantly by 90.06% QoQ, from ₹1.32 crores in March 2023 to ₹1.21 crores in June 2024. This shows better control over costs. Despite the positive YoY growth in revenue, other operating expenses rose sharply by 490.58% YoY, indicating a need for careful monitoring.

Diligent Media Corporation’s net income before taxes also fell by 98.51% QoQ, decreasing from ₹131.62 crores in March 2023 to ₹2.44 crores in June 2024, while it showed a smaller decrease of 14.26% YoY from ₹2.85 crores. Lastly, the diluted normalized earnings per share (EPS) dropped by 83.95% QoQ to ₹0.21, although it increased by 16.67% YoY from ₹0.18. Overall, the corporation has shown strong growth YoY, but there are concerns about expenses and income levels on a QoQ basis.

Here’s a simplified summary of the Diligent Media Corporation's Q1 financial results for June 2024, along with comparisons to previous periods:

(₹ in crores)

Diligent Media Corporation Q1 Results

Diligent Media Corporation reported its financial results for the quarter ending June 30, 2024. In this quarter, the company generated Rs. 296.30 lakhs from its operations, which is lower than the Rs. 317.65 lakhs earned in the previous quarter. However, it experienced a rise in other income, reaching Rs. 364.31 lakhs, which helped boost the total income to Rs. 660.61 lakhs.

When examining expenses, Diligent Media spent a total of Rs. 416.33 lakhs during this quarter. This amount includes various costs like employee benefits, finance costs, marketing expenses, and other operational costs. Although expenses were significant, the company reported a profit before tax of Rs. 244.28 lakhs. After deducting taxes, the profit after tax was Rs. 245.26 lakhs, showing a notable improvement from a loss reported in the previous quarter.

Diligent Media Corporation’s total comprehensive income, which includes some adjustments and other income, was also Rs. 245.26 lakhs. The earnings per share for this quarter were Rs. 0.21. Overall, despite a slight decline in operational revenue, the company successfully improved its profitability compared to earlier periods, indicating a positive trend in its financial health.

Here’s a structured summary of the unaudited financial results for Diligent Media Corporation for the quarter ended June 30, 2024: 

(Rs. in lakhs)

Diligent Media Corporation Financial Metrics

Diligent Media Corporation has a market capitalization of ₹66.2 crore, meaning this is the total value of all its shares combined. The current stock price is ₹5.62. It has experienced a high of ₹8.84 and a low of ₹3.00 in the past. The Price-to-Earnings (P/E) ratio is 12.4, which indicates how much investors are willing to pay for each unit of earnings. However, the book value is negative at ₹-21.9, suggesting the company's liabilities exceed its assets. The dividend yield is 0%, meaning it does not pay dividends.

Here’s a table summarizing the stock information:

Quarterly Results 

In the financial data for Diligent Media Corporation, the figures for December 2023, March 2024, and June 2024 show important trends. In December 2023, the company had sales of 2.65 crores, with expenses at 2.24 crores, resulting in a small operating profit of 0.41 crores. However, in March 2024, sales increased to 3.18 crores, but expenses surged to 14.08 crores, leading to a significant operating loss of 10.90 crores. Despite this loss, net profit was high at 125.70 crores due to substantial other income. 

Here’s the table with the data for Dec 2023, Mar 2024, and Jun 2024, along with their particulars:

(Figures in Rs. Crores)

About Diligent Media Corporation 

Diligent Media Corporation is a company in India that focuses on printing, publishing, and distributing newspapers. Based in Mahape, Navi Mumbai, it has a modern printing press with advanced technology. DMCL not only prints its own newspaper, DNA, but also provides printing services to other newspapers in Maharashtra. The DNA newspaper gives readers balanced news about the city, country, financial markets, and global events. It includes special sections like DNA Money, which talks about finance, DNA After Hrs for lifestyle and entertainment, JBM - Just Before Monday for weekend reading, and DNA Property, which covers real estate news.

Diligent Media Corporation has a website that shares news in various categories, such as sports, education, business, and lifestyle. Overall, Diligent Media Corporation aims to keep its readers informed with accurate and diverse news content.