D. B. Corp (DBCORP) Q1 25/26 earnings summary

Executive summary

• Q1 FY 2026 revenue was INR 5.872 billion, down from INR 6.163 billion in Q1 FY 2025, mainly due to a high base from last year's general elections.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, were approved and released, with a declared interim dividend of Rs. 5 per equity share for FY26.

• Advertising revenue normalized for election impact showed single-digit growth, reflecting brand resilience and advertiser trust.

• Circulation held steady at around 4 million copies despite the usual summer decline, supported by on-ground initiatives.

• Digital monthly active users rose from 20 million to 22 million in May 2025, driven by news events and a large editorial team.

Financial highlights

• EBITDA for Q1 FY 2026 was INR 1.384 billion, down from INR 1.909 billion YoY but up 36.1% sequentially.

• Net profit stood at INR 808 million, compared to INR 1.179 billion in Q1 FY 2025.

• Newsprint cost averaged INR 47,100 per ton, slightly lower than the previous quarter.

• Radio segment advertising revenue grew 1.2% YoY and 4% QoQ to INR 392 million; radio EBITDA was INR 115 million, down from INR 132 million YoY.

• Print business EBITDA margin expanded to 31% in Q1 from 23% in Q4 FY 2025, up 800 bps QoQ.

Outlook and guidance

• Management expects growth momentum to improve in Q2 as the election-related base effect subsides.

• Optimism about the broader economic environment and consumption trends in India, with government policy and reforms anticipated to boost consumption, especially in Tier II and beyond markets.

• Newsprint prices expected to remain stable in Q2; Q3 outlook depends on international markets.

• Digital business remains in investment phase, with profitability expected in future quarters.

• The company remains confident in driving sustainable growth across print and digital platforms.