D. B. Corp (DBCORP) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 total revenue grew 9% YoY to INR 6,347 million, with advertising revenue up 12% YoY and circulation revenue up 3% YoY.

• EBITDA for Q2 FY26 rose 10% YoY to INR 1,584 million, and PAT increased 13% YoY to INR 935 million, both adjusted for forex losses.

• H1 FY26 consolidated revenue grew 2% YoY to INR 12,219 million, with net profit at INR 1,743 million after forex adjustments.

• Print business EBITDA margin reached 28% in Q2 FY26, supported by stable newsprint costs and disciplined cost management.

• Digital business maintained leadership with ~20 million MAUs as of August 2025, reinforcing dominance in both print and digital formats.

Financial highlights

• Q2 FY26 advertising revenue: INR 4,478 million (+12% YoY); circulation revenue: INR 1,208 million (+3% YoY); radio advertising revenue: INR 430 million (+4% YoY).

• Q2 FY26 EBITDA: INR 1,584 million (+10% YoY, after INR 9 million forex loss); PAT: INR 935 million (+13% YoY, after INR 15 million forex loss).

• H1 FY26 EBITDA: INR 2,968 million; net profit: INR 1,743 million (after INR 17.5 million forex loss).

• Print and allied business Q2 FY26 revenue at INR 5,717.9 million; radio segment at INR 428.7 million.

• Segment EBITDA for print and other business at INR 1,454 million (up 11% YoY); radio EBITDA at INR 130 million.

Outlook and guidance

• Management expects newsprint prices to remain stable in coming quarters, subject to currency fluctuations.

• Positive demand outlook driven by festival season, stable input costs, and favorable consumer sentiment.

• Focus remains on efficiency, innovation, and value creation across print, digital, and radio.

• Continued growth expected, supported by pro-consumption government measures, strong brand equity, and digital expansion, especially in Tier II and III markets.