DB Corp Limited (DBCL), publisher of Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar dailies, has reported its financial results for the fourth quarter and full year ended March 31, 2026, showing steady operational performance despite a high base in the previous year due to elections.
For FY2025-2026, on a like-to-like basis excluding last year’s election impact, the company’s print advertising business recorded 6.3% year-on-year growth in revenue and 7.1% growth in EBITDA. The EBITDA margin expanded by around 66 basis points to 28%.
Reported consolidated total revenue stood at Rs 2,440.8 crore compared to Rs 2,421.2 crore in FY2025. EBITDA came in at Rs 573.6 crore versus Rs 627.0 crore, while profit after tax (PAT) was Rs 332.0 crore compared with Rs 371.0 crore in the previous year.
In the fourth quarter of FY2026, the company said its print business maintained momentum despite global geopolitical uncertainties, supported by improved advertiser sentiment. Advertising demand remained strong across sectors, including education, real estate, healthcare, automobile, and government. Total advertising revenue rose about 6% year-on-year to Rs 406.7 crore from Rs 384.1 crore. Consolidated total revenue increased 4% to Rs 589.6 crore, EBITDA grew 15.6% to Rs 117.6 crore, and PAT rose 18.8% to Rs 62.2 crore.
DB Corp noted that newsprint prices increased due to supply disruptions, higher raw material costs and foreign exchange movements, but management expects this to be a temporary disruption lasting a couple of quarters.
The company’s digital business continued to be a key growth driver, with monthly active users (MAUs) at around 20 million as of March 2026. Dainik Bhaskar remained the number one Hindi and Gujarati news app. The company said its focus on high-quality content, user experience and technology has supported engagement, with improvements in content formats, visual presentation and hyperlocal coverage enhancing user retention.
Q4FY26
For Q4FY26, consolidated advertising revenue grew 5.9% year-on-year to Rs 406.7 crore from Rs 384.1 crore, while total revenue rose 4% to Rs 589.6 crore from Rs 566.8 crore. Circulation revenue remained flat at Rs 116.2 crore compared to Rs 117.2 crore.
EBITDA increased 16% to Rs 117.6 crore from Rs 101.7 crore in Q4FY26, with EBITDA margin expanding by 200 basis points. Net profit rose 19% to Rs 62.2 crore from Rs 52.3 crore. In the radio segment, advertising revenue stood at Rs 35.8 crore versus Rs 37.8 crore, while EBITDA was Rs 9.5 crore compared to Rs 10.7 crore.
FY2026
For FY2026 as a whole, consolidated advertising revenue stood at Rs 1,691.8 crore versus Rs 1,689.9 crore, with print advertising growing 6.3% year-on-year on a like-to-like basis excluding election impact. Total revenue increased 1% to Rs 2,440.8 crore from Rs 2,421.2 crore.
Circulation revenue was Rs 475.1 crore compared to Rs 473.4 crore. EBITDA stood at Rs 573.6 crore versus Rs 627.0 crore, and net profit was Rs 332.0 crore compared to Rs 371.0 crore. In the radio business, advertising revenue stood at Rs 159.2 crore versus Rs 167.2 crore, while EBITDA was Rs 46.7 crore compared to Rs 55.8 crore.
Commenting on the results, DB Corp managing director Sudhir Agarwal said the company’s performance reflected “strong and consistent progress,” with print showing resilience through sustained advertising demand and stable circulation. He added that digital platforms are scaling with growing engagement and user base, strengthening the company’s “phygital” presence. Agarwal said cost discipline and operational efficiency supported margins, and expressed confidence in future growth driven by improving consumption trends and advertiser sentiment.
