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 December 31, 2024 (Q3 FY2025) and the first nine months of the financial year 2025 (9M FY25).
The company says it delivered an advertisement revenue CAGR growth of 20% in the last three-year period from Rs 10,084 million (Rs 1008.4 crore) in FY21 to Rs 17,524 million (Rs 1752.4 crore) in FY24. Similarly, profit after tax (PAT) delivered 44% CAGR growth in last three years from Rs 1,414 million (Rs 141.4 crore) in FY21 to Rs 4,255 million (Rs 424.5 crore) in FY2024.
The media group announced its highest-ever nine-month performance in FY25 with revenue of Rs 18,544 million (Rs 1854.4 crore) and PAT of Rs 3187 million (Rs318.7 crore). The company says this performance is noteworthy, considering the election-led high base of last year. Excluding the election-related ad benefits, Q3 FY25 registered healthy growth in ad revenue, EBIDTA and PAT Y-o-Y.
In the nine months of FY25, the topline grew by 1% Y-o-Y on a high base, EBITDA grew by 4% Y-o-Y to Rs 5252 million (Rs525.2 crore), on account of stable newsprint prices & reflecting efficient cost management. Profit after tax saw a 5% Y-o-Y growth to Rs 3187 million (Rs 318.7 crore), showcasing sustained profitable growth. The print business EBIDTA margin expanded by 200 basis points to 32%. Its radio business-led industry growth saw a 9% Y-o-Y increase in advertising revenue to Rs 1287 million and EBIDTA grew by 11% to Rs 451 million.
“Dainik Bhaskar’s market leadership in India’s newspaper industry helped draw in a strong portfolio of advertisers across diverse sectors, aiding growth even on a high base. Traditional sectors continued their ad spend in the festive season, and while there has been some cooling off, the overall sentiments remain optimistic,” the company said.
According to the company, newsprint prices continued to be soft in 9M FY 2025. “Our average cost for newsprint was Rs 47,600 PMT in 9M FY2025 from Rs 52,700 PMT last year, resulting in newsprint cost reduction of 14% Y-o-Y. As expected, newsprint prices remained stable in dollar terms in Q3 of FY2025 and are expected to remain soft for next couple of quarters subject to dollar exchange fluctuation.”
Print remains a cornerstone, commanding unparalleled reader engagement through its tangible and reliable format, the company said. “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.”
Performance for 9M FY2025
Total revenue grew by 1% to Rs 18544 million in 9M FY2025 as against Rs 18,403 million in 9M FY2024. Advertising revenue stood at Rs. 13058 million 9M FY2025 as against Rs 13,066 million in the corresponding period last financial year. Circulation revenue was Rs. 3562 million as against Rs. 3604 million EBIDTA in 9M FY2025 grew by 4% to Rs. 5252 million as against Rs. 5066 million in 9M FY2024. Net profit grew by 5% Y-o-Y to Rs 3187 million as against Rs. 3030 million in 9M FY2024.
Performance highlights for Q3 FY2025
Total revenue in Q3 FY2025 stood at Rs. 6556 million as against Rs. 6,648 million on an election-filled high base of last year. Advertising revenue was Rs. 4767 million in Q3 FY2025 as against Rs. 4819 million, due to the state election-filled high base of last year. Circulation revenue was Rs. 1195 million in Q3 FY2025 as against Rs 1,200 million in Q3 FY2024. EBIDTA was Rs 1902 million (EBIDTA margin 29%) as against Rs 2031 million in Q3 FY2024, aided by effective cost control measures, also helped by softening newsprint prices. Net profit was Rs. 1182 million as against Rs 1,240 million in Q3 FY2024.
Sudhir Agarwal, managing director, DB Corp, “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 omnichannel market leadership. While 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.”
