DB Corp (DBCL), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, has announced its financial results for the quarter ended September 30, 2024 (Q2 FY2025) and the first half of the financial year 2025 (H1 FY2025).
In Q2 FY2025, total consolidated revenue stood at Rs 582.5 crore, lower than Rs 601.9 crore reported in Q2 FY2024, primarily on an election environment-led high growth base of last year. Advertising revenue was Rs 401.4 crore as against Rs 430.1 crore in Q2 FY2024, due to last year’s high base.
A circulation revenue of Rs 117.5 crore was reported in Q2 FY2025 as against Rs 120.5 crore in the corresponding quarter in FY2024. EBITDA was recorded at Rs 144.2 crore (25% margin) as against Rs 167.6 crore in FY 2024. The net profit was Rs 82.6 crore, lower than Rs 100.3 crore in Q2 FY2024.
In the first half of FY2025 (April to September 2025), total revenue grew by 2% to Rs 1198.8 crore as against Rs 1175.5 crore in H1 FY2024. Advertising revenue grew by 1% to Rs 829.1 crore in H1 FY2025 as against Rs 824.7 crore while circulation revenue stood at Rs 236.7 crore as against Rs 240.4 crore in H1 FY2024.
EBITDA grew by 10% to Rs 335.1 crore as against Rs 303.5 crore aided by advertisement revenue growth coupled with effective cost-control measures, which was further helped by softening newsprint prices. EBITDA margin expanded by 200 basis points to 28% from 26% last year while net profit grew by 12% YOY to Rs 200.4 crore in H1 FY2025 as against Rs 179.0 crore in H2 FY2025.
Commenting on the performance for Q2 FY2025, Sudhir Agarwal, managing director, DB Corp, said, “In Q2 FY25, 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 we 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 August 2024, 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 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,” Agarwal said.
The company says DB Corp has delivered advertisement revenue CAGR growth of 20% in last three years from Rs 1008.4 crore in FY21 to Rs 1752.4 crore in FY24. Similarly, PAT has delivered a 44% CAGR growth in the last three years from Rs 141.4 crore in FY21 to Rs 425.5 crore in FY2024.
Newsprint prices, the company said, continued to be soft in H1 of FY2025. “Our average cost for newsprint has reduced to Rs 47,450 PMT in H1 FY2025 from Rs 54,050 PMT in last year resulting in newsprint cost reduction of 18% YoY. Further newsprint prices are expected to remain soft at current levels in the next few quarters.”
In today’s dynamic media environment, print remains a cornerstone, commanding unparalleled reader engagement through its tangible and reliable format, the company said. With the election season behind us, “our strong editorial team continues to focus on local issues and news stories that could potentially impact the lives of our readers in the region. Across the states that we operate, our editorial initiatives have been well received by our readers and this enthuses us to endure and throw light on key issues.”
