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D B Corp Results: Latest Quarterly Results & Analysis

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DB Corp Ltd. 16 Jul 2025 12:56 PM
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Q1FY26 Quarterly Result Announced for DB Corp Ltd.

Publishing company DB Corp announced Q1FY26 results

  • Total Revenue stands at Rs 5,872 million as against Rs 6,163 million last year.
  • Advertising Revenue stands at Rs 3,978 million as against Rs 4,277 million. On a like to Like Basis, Advt Revenue grew by high single digit.
  • Circulation Revenue stands at Rs 1,203 million as against Rs 1,192 million.
  • EBIDTA stands at Rs 1,384 million as against Rs 1,909 million.
  • Net Profit stands at Rs 808 million as against Rs 1,179 million.
  • Radio business:
    • Advt Revenue stands at Rs 392 million versus Rs 388 million.
    • EBIDTA stands at Rs 115 million versus Rs 132 million.

Sudhir Agarwal, Managing Director, DB Corp, said: “Despite a high base effect from last year’s general elections, which had driven a temporary surge in advertising revenues, our core performance remained steady – supported by stable advertising trends, soft newsprint prices, and disciplined cost structures. Our digital business continues to scale rapidly, with Monthly Active Users reaching the 22 million mark this quarter – reinforcing our position as India’s leading Indian language news app platform.

We believe the Government’s continued focus on enhancing disposable incomes through income tax rationalisation, softening of interest rates, and the anticipated implementation of the 8th Pay Commission later this fiscal, will further stimulate economic activity, particularly across Tier II and beyond markets. This is expected to provide a strong tailwind to Bharat’s consumption story. Backed by our deep editorial strength, hyperlocal relevance, and continuous product innovation, we remain confident in our ability to drive sustainable growth across both print and digital platforms, while delivering long-term value to all stakeholders”

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Publishing company DB Corp announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Revenue stands at Rs 5,668 million as against Rs 6,418 million last year which was an election-driven high base year.
  • Advertising Revenue stands at Rs 3,841 million as against Rs 4,457 million, due to high base of last year.
  • Circulation Revenue stands at Rs 1,172 million as against Rs 1,187 million during Q4FY24.
  • EBIDTA stands at Rs 1,017 million as against Rs 1,967 million during Q4FY24.
  • Net Profit stands at Rs 523 million as against Rs 1,225 million during Q4FY24.
  • Radio business:
    • Advt. Revenue stands at Rs 376 million versus Rs 412 million during Q4FY24.
    • EBIDTA stands at Rs 107 million versus Rs 144 million during Q4FY24.

FY25 Financial Highlights:

  • Total Revenue at Rs 24,212 million as against Rs 24,821 million during FY24.
  • Advertising Revenue stands at Rs 16,899 million as against Rs 17,524 million during FY24.
  • Circulation Revenue stands at Rs 4,734 million as against Rs 4,791 million during FY24.
  • EBIDTA is at Rs 6,270 million as against Rs 7,033 million during FY24.
  • Net Profit stands at Rs 3,710 million as against Rs 4,255 million during FY24.
  • Radio business:
    • Advt. Revenue grew by 4.4 % YoY to Rs 1,663 million versus Rs 1,593 million during FY24.
    • EBIDTA grew by 1.3% YoY to Rs 558 million versus Rs 551 million during FY24.

Sudhir Agarwal, Managing Director, DB Corp, said: “Our full year results show a modest slowdown after three years of impressive growth trajectory, primarily due to comparison with last year's election-driven fourth quarter surge and a cautious stance by advertisers in the fourth quarter. The standout achievement this quarter has been our rising circulation numbers, which validates the enduring power of print media and gives us optimism for the quarters ahead. Our digital ecosystem continues to gain momentum, solidifying our integrated leadership across all platforms.

While global economic uncertainties linger, we expect India's robust consumption-driven growth to continue in the near to medium term on the back of certain positive triggers like Income Tax benefit, implementation of the 8th Pay Commission and likelihood of a Normal Monsoon. We continue to remain focused on strengthening our market position and pursuing meaningful opportunities for expansion and innovation.”

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Publishing company DB Corp announced 9MFY25 & Q3FY25 results

Q3FY25 Financial Highlights:

  • Total Revenue stands at Rs 6556 million as against Rs 6,648 million on an election filled high base of last year.
  • Advertising Revenue stands at Rs 4767 million as against Rs 4819 million, due to state election filled high base of last year..
  • Circulation Revenue stands at Rs 1195 million as against Rs 1,200 million.
  • EBIDTA stands at Rs 1902 million (EBIDTA margin 29%) as against Rs 2031 million aided by effective cost control measures, & also helped by softening newsprint prices.
  • Net Profit stands at Rs 1182 million as against Rs 1,240 million.
  • Radio business:
    • Advt Revenue grew by 6% YoY at Rs 492 million versus Rs 464 million.
    • EBIDTA grew by 2% YoY to Rs 187 million versus Rs 183 million.

9MFY25 Financial Highlights:

  • Total Revenue grew by 1% to Rs 18544 million as against Rs 18,403 million.
  • Advertising Revenue stood at Rs 13058 million as against Rs 13,066 million.
  • Circulation Revenue stands at Rs 3562 million as against Rs 3604 million.
  • EBIDTA grew by 4% to Rs 5252 million as against Rs 5066 million.
  • Net Profit grew by 5% YoY to Rs 3187 million as against Rs 3030 million.
  • Radio business:
    • Advt. Revenue grew by 9% YoY to Rs 1287 million versus Rs 1181 million.
    • EBIDTA grew by 11% YoY to Rs 451 million versus Rs 407 million

Sudhir Agarwal, Managing Director, DB Corp, said: "Our performance in Q3FY25 contributing to the highest ever nine-month performance, even on the back of a high base is a confidence-booster for us and underscores our strategic focus on Content over Noise, Truth over Trends in our editorial strategy which has brought us rich dividends. The festive season saw strong demand from advertisers and while there has been some softening thereafter, we continue to remain optimistic. Our digital business continues to support our omni-channel market leadership.

With global economic performance remains sluggish, the Indian economy, driven by domestic consumption, continues to drive our key markets and advertisers while our circulation teams have been active in driving engagement. These pillars will augur well as we set to not only cement our leadership position, but continue to look for windows of opportunity to push growth”

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Publishing company DB Corp announced Q2FY25 results

  • Total Revenue stands at Rs 5,825 million as against Rs 6,019 million on an election environment led driven high growth base of last  year.
  • Advertising Revenue stands at Rs 4,014 million as against Rs 4,301 million, due to high base of last year.
  • Circulation Revenue stands at Rs 1175 million as against Rs 1,205 million
  • EBIDTA stands at Rs 1,442 million (EBIDTA margin 25%) as against Rs 1,676 million.
  • Net Profit stands at Rs 826 million as against Rs 1,003 million.
  • Radio business:
    • Advt Revenue grew by 16% YoY at Rs 414 million versus Rs 356 million.
    • EBIDTA grew by 22% YoY to Rs 132 million versus Rs 108 million

Sudhir Agarwal, Managing Director, DB Corp Ltd said: "In Q2FY25, we did not meet our revenue growth targets, primarily due to the extended monsoon season, which slowed market activity and consumer spending, and a high base effect - Q2FY24 was an exceptionally strong quarter bolstered by significant advertising driven by state elections filled environment. We believe will continue our growth trajectory in the coming quarters to meet our long-term growth strategy as we are actively adapting to current market conditions. Our Digital Business is thriving, with continued growth in MAUs to almost 20 million as of Aug’24, despite monetizing on a pilot basis.

Our foundation for future success remains strong, built on our commitment to editorial excellence, continued broad-based support from advertisers, and the robust economic growth in our key markets. These factors position us well to capitalize on emerging opportunities. As India's economic landscape evolves in the post-election period, we are confident in our ability to further cement our market leadership and continue to focus on enhancing value to our stakeholders."

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Publishing company DB Corp announced consolidated Q1FY25 results:

  • Advertising Revenue grew by 8.4% to Rs 4,277 million as against Rs 3,946 million.
  • Circulation Revenue stands at Rs 1,192 million as against Rs 1,199 million
  • Total Revenue grew by 7.4% to Rs 6,163 million as against Rs 5,736 million.
  • EBIDTA grew by 40.4% to Rs 1,909 million as against Rs 1,359 million aided by Advt revenue
  • Growth with effective cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by 700 basis points to 31% from 24% last year
  • Radio business:
    • Advt Revenue grew by 6.2 % YoY at Rs 386 million versus Rs 364 million
    • EBIDTA grew by 14.2% YoY to Rs 132 million versus Rs 115 million

Commenting on the performance for Q1 FY2025, Sudhir Agarwal, Managing Director, DB Corp said, "As we enter Fiscal 2025, Dainik Bhaskar has demonstrated resilience and strength. Our first quarter results are particularly impressive considering the dip in Govt billing due to the election code of conduct. We are maintaining our growth trajectory across our Print, Radio, and Digital platforms, underscoring the robustness of our omnichannel strategy and the underlying demand for our media offerings. Our Digital platform with currently 18 million MAUs is a powerful pillar of growth.

The editorial excellence, continued broad-based support from advertisers and the strong economic growth of our key markets provides us a strong platform. As India's economic landscape continues to evolve post-elections, we're well-positioned to capitalize on new opportunities, further cement our market leadership, and deliver enhanced value to our stakeholders.”

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Publishing company DB Corp announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Advertising Revenue grew by strong 24.6% to Rs 4,457 million as against Rs 3,578 million.
  • Circulation Revenue grew by around 3% to Rs 1,187 million as against Rs 1,153 million
  • Total Revenue grew by impressive 17.8% to Rs 6,418 million as against Rs 5,446 million.
  • EBIDTA grew by 121.2% to Rs 1,967 million as against Rs 889 million aided by Advt revenue Growth with effective cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by 1500 basis points to 31% from 16% last year
  • Net Profit grew by 198.6% YoY to Rs 1,225 million as against Rs 410 million.
  • Radio business:
    • Advt Revenue grew 32.5% YoY at Rs 426.6 million versus Rs 322 million
    • EBIDTA grew by 71.2% YoY to Rs 144.2 million versus Rs 84 million

FY24 Financial Highlights:

  • Advertising Revenue grew by 18.2% to Rs 17,524 million as against Rs 14,827 million. Advt revenue witnessed absolute revenue growth of Rs 2,697 million
  • Circulation Revenue grew by around 3.5% to Rs 4,791 million as against Rs 4,627 million
  • Total Revenue grew by around 14.5% to Rs 24,821 million as against Rs 21,682 million. Total revenue witnessed absolute revenue growth of Rs 3,139 million
  • EBIDTA grew by 94.7% to Rs 7,033 million as against Rs 3,611 million aided by Revenue growth coupled with effective cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by 1,100 basis points to 28% from 17% last year
  • Net Profit grew by 151.7% YoY to Rs 4,255 million as against Rs 1,691 million.
  • Radio business:
    • Advt Revenue grew by 21% YoY at Rs 1,623 million versus Rs 1,342 million
    • EBIDTA grew by 36.9% YoY to Rs 551 million versus Rs 402 million

Commenting on the performance for Q4 FY2024, Sudhir Agarwal, Managing Director, DB Corp Ltd said, "Fiscal 2024 marks yet another year of continued growth for the Print Media sector in general and Dainik Bhaskar in particular. The momentum that has built over the past few quarters is a demonstration of the underlying strength of the medium. Apart from our Print business, our radio business continues this growth trajectory, digital business is also progressing as planned, and we are enthused by the immense potential of our omni-channel platform that is now firing on all cylinders.

We are happy that we have built a strong platform of growth and are encouraged by the broad-based advertising revenues that we continue to attract. With India’s growth momentum going strong, we see a plethora of opportunities and going into the new financial year, we are hopeful to be able to continue this momentum and increase our leadership position and deliver growth to all stakeholders”.

Result PDF

Publishing company DB Corp announced consolidated Q1FY24 results:

  • Advertising revenue grew by 17.2% to Rs 3,946 million against Rs 3,368 million.
  • Total revenue grew by around 15% to Rs 5,736 million as against Rs 4,994 million.
  • Circulation revenue grew by around 4% to Rs 1,199 million as against Rs 1,156 million
  • EBIDTA grew by a strong 84.2% to Rs 1,359 million as against Rs 738 million aided by stringent cost control measures, & also helped by softening newsprint prices. EBIDTA margin expanded by impressive 900 basis points to 24% from 15% last year
  • Net profit grew by an impressive 154% YoY to Rs 788 million against Rs 310 million.
  • Radio Business:
    • Revenue grew by 16.2 % YoY at Rs 372 million versus Rs 320 million
    • EBIDTA grew by 23% YoY to Rs 115 million versus Rs 94 million

Commenting on the performance for Q1 FY2024, Sudhir Agarwal, Managing Director, DB Corp said, “As global economies are making a slow recovery from their inflationary pressures, the Indian Economy, especially the non-metro markets continue to see rapid growth. The print sector has been on the uptrend for the past few months and this is likely to continue. Reputed agencies such as CRISIL peg this growth at about 15-17% on the back of strong advertising revenues, driven by Elections, Government Spending, and Consumer Demand across traditional and digital sectors while English language print has been struggling with sluggish demand, Regional newspapers seem to be faring better.

Dainik Bhaskar, as the dominant leader, and India’s largest newspaper group, has a clear advantage. We attribute this to our continued editorial excellence, high reader engagement, and omnichannel delivery mechanism. Along with ad revenue growth, we have been focused on cost optimisation and over the last 4-6 months have also helped with easing newsprint prices. This has helped us deliver our fifth quarter of consistent growth across all segments and are confident of continuing this trend in the forthcoming quarters”.

 

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Publishing company DB Corp announced Q4FY22 results:

  • FY22 (Consolidated):
    • Advertising Revenue grew by 17.3% at Rs. 11,827 million as against Rs. 10,084 million
    • Circulation Revenue grew by 9.9% at Rs. 4,558 million as against Rs. 4,146 million
    • Total Revenue grew by 17.5% at Rs. 17,885 million as against Rs. 15,222 million
    • EBIDTA grew by 1.1% at Rs. 3,228 million as against Rs. 3,193 million. Print Business EBIDTA grew in high teens with EBIDTA margin expanded by 100 basis points to around 26%, despite newsprint prices headwinds
    • PAT grew by 0.8% at Rs. 1,426 million as against of Rs. 1,414 million
    • Radio Business:
      • Advertising Revenue grew by 35.1% to Rs 1,122 million versus Rs. 831 million last year
      • EBIDTA grew by 88% to Rs.314 million versus Rs.167 million
  • Q4FY22 (Consolidated):
    • Advertising Revenue grew by 1.6% to Rs. 3,134 million as against Rs. 3,084 million, on a comparative higher base of last year
    • Circulation Revenue grew by 4.4% at Rs. 1,152 million as against Rs. 1,104 million
    • Total Revenue grew by 4.3% at Rs. 4,799 million as against Rs. 4,601 million
    • EBIDTA stands at Rs. 663 million as against Rs. 1,047 million, aided by stringent cost control measures and despite large digital business investment for future growth. Print Business EBIDTA margin stands at 24% in spite of newsprint price increase
    • Net Profit stands at Rs. 245 million as against Rs. 619 million.
    • Radio business:
      • Advertising Revenue grew by 9.2% at Rs. 303 million versus Rs. 278 million
      • EBIDTA stands at Rs. 82 million versus Rs. 93 million

Commenting on the performance for FY2022, Mr. Sudhir Agarwal, Managing Director, DB Corp Ltd said,  “When the Covid-19 pandemic ravaged the country, we were extremely proud of our front-line team members who wanted to bring a sense of continuity and calm and reduce the stress of our readers. Our thoughtful editorial integrity coupled with strong on-ground reporting ensured that we were the #1 choice of readers in India and our current leadership position is a strong testament to our readers. The Digital Push to become an omni-channel news delivery powerhouse is amplified by the dominant #1 position that our Hindi and Gujarati News Apps command.

This leadership position, coupled with a resurgence of traditional advertising has also enthused our team to bring innovative solutions to the advertising community. With record-breaking mega editions ushering in the revival of post covid ad spends, our broad spectrum of advertisers – small traders, hyperlocal content, large companies, MNCs and industry leaders all reposed faith in the Dainik Bhaskar Group and this has helped us generate strong returns for all our stakeholders with our Print Advertising Revenues reaching pre-Covid levels.

The sustainable cost-cutting measures that we undertook coupled with the support of our readers as we increase cover prices has ensured that we end this financial year on a very strong position and are well-placed to forge newer milestones in the forthcoming quarters.”

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Publishing company DB Corp declares Q3FY22 result:

  • Advertising Revenue grew by 24.2% at Rs. 8693 million as against Rs. 7001 million
  • Circulation Revenue grew by 11.9% at Rs. 3406 million as against Rs. 3043 million
  • Total Revenue grew by 23.2% at Rs. 13087 million as against Rs. 10,621 million
  • EBIDTA  grew by 19.5% at Rs. 2565 million as against Rs. 2,146 million.
  • Print Business EBIDTA  grew by 30% YoY to Rs 3190 million from Rs 2460 million with EBIDTA margin expanded by 150 basis points to 26.3%
  • PAT grew by 48.5% YoY at Rs. 1180 million as against of Rs. 795 million, Print Business PBT grew by 54.1% to Rs 2394 million from Rs 1553 million
  • Radio Business:  
    • Advertising Revenue grew by 48% YoY to Rs 819 million versus Rs. 553 million last year
    • EBIDTA grew by 212% YoY to Rs. 232 million versus Rs. 74 million
  • Advertising Revenue grew by 7.7% to Rs. 3951 million as against Rs. 3667 million, on a comparative higher base of last year
  • Circulation Revenue grew by 5.5% at Rs. 1141 million as against Rs. 1082 million
  • Total Revenue grew by 10.6% at Rs. 5495 million as against Rs. 4966 million
  • EBIDTA stands at Rs. 1459 million (27% margin) as against Rs. 1679 million (margin of 34%), aided by stringent cost  control measures and despite large digital business investment for future growth. Print Business EBIDTA at Rs 1590 million with 31% margin
  • Net Profit stands at Rs. 865 million as against Rs. 990 million. Print Business Profit before Tax stands at Rs 1347 million
  • Radio business: 
    •  Advertising Revenue grew by 29.3% at Rs. 376 million versus Rs. 291 million 
    •  EBIDTA grew by 36% at Rs. 147 million versus Rs. 108 million

Commenting on the performance for Q3 FY 2022, Mr. Sudhir Agarwal, Managing Director, DB Corp Ltd said, “While the cases of Omicron are surging, the impact on the ground is much less severe as compared to the previous two waves, with a combination of vaccines, lower levels of hospitalisation and a reduction of the fear associated with Covid, helping in keeping the overall sentiment strong.

The momentum that had started in the previous quarter has extended significantly in this quarter with the Group recording strong QoQ and YoY growth on a reasonable base. We are seeing renewed vigour in advertising revenues, with new categories starting to look towards Print for their ad spend, coupled with select traditional categories like Real Estate, Education, Jewellery that have bounced back to pre-Covid levels. The other large traditional sectors are beginning to show signs of revival and that underscores further growth potential. As the market leader in Indian Language Print, backed with strong editorial integrity, we are a natural choice for advertisers, both new age as well as the traditional as they look to create localised and targeted ad campaigns.

Our focus in the past few quarters has been to create parallelly a strong digital footprint for Dainik Bhaskar group, and we are happy to report that our efforts are yielding results with our websites and apps showing remarkable growth in reader  engagement. We are working hard to close the fourth quarter on a strong note and continue to work towards meeting the expectation of all our stakeholders.”

Result PDF

Highlights 

  • Advertising Revenue stood at Rs. 3029 million as against Rs. 2263 million, on a comparative higher base of last year
  • Circulation Revenue stood at Rs. 1159 million as against Rs. 1033 million
  • Total Revenue came in at Rs. 4513 million as against Rs. 3498 million
  • EBIDTA stands at Rs. 1054 million (23% margin) as against Rs. 745 million (margin of 21%), aided by stringent cost control measures and despite large digital business investment for future growth
  • Net Profit stands at Rs. 538 million as against Rs. 285 million
  • Radio business:
    • Advertising Revenue at Rs. 287 million versus Rs. 182 million
    • EBIDTA stands at Rs. 87 million versus Rs.27 million
  • Advertising Revenue stood at Rs. 4742 million as against Rs. 3333 million
  • Circulation Revenue stood at Rs. 2265 million as against Rs. 1961 million
  • Total Revenue came in at Rs. 7592 million as against Rs. 5655 million
  • EBIDTA stood at Rs. 1105 million as against Rs. 467 million
  • PAT stood at Rs. 315 million as against Net loss of Rs.195 million,
  • Radio Business:
    • Advertising Revenue at Rs. 443 million versus Rs. 262 million last year
    • EBIDTA I (Operating loss) at Rs. 85 million versus Rs. (34) million

Commenting on the performance for Q2 FY 2022, Mr. Sudhir Agarwal, Managing Director, DB Corp Ltd said, "With the pandemic creating a sombre environment in the past few quarters, we are pleased that the cloud of despair seems to have been lifted with a strong wave of positive sentiments flowing in. We had always expected a good recovery, but the robust momentum that we are witnessing in our key Tier-II, Ill and beyond markets is truly encouraging.

With this broad-based recovery, we have not only crossed our performance of last year but are on track to reach our performance of 2019 or before the pandemic started. This, we believe, is a testament to our well-thought-out strategy, editorial integrity, and continued leadership position in the markets we operate in, making us natural partners for our advertising clients, and importantly, the first choice in newspapers for millions of readers across the country.

As our digital footprint expands, we hope to be able to capture the mind-space of our readers across Print as well as Digital mediums. We will continue to strive for our stakeholders and are excited to go into the second half of the year with strong momentum."

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