India · Delayed Price · Currency is INR D. B. Corp Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 delivered 8% revenue and 25% PAT growth, with margin expansion driven by strong print and radio performance, cost control, and broad-based ad growth. Newsprint costs rose, but operational discipline offset impacts. Digital and radio segments showed encouraging trends.
Fiscal Year 2026
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Q4 FY26 delivered 6% YoY ad revenue growth and 16% EBITDA growth, with stable circulation and strong digital engagement. Newsprint costs are rising, but management expects continued single-digit ad growth and stable margins, while investing in property and digital expansion.
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Q3 FY26 revenues declined 4% YoY due to a high base, with ad revenues down 7.8% but stable sequentially. EBITDA margin improved to 25% (29% for print), and cost controls offset revenue pressure. Digital and radio segments showed user growth and operational expansion, while government ad rates and school initiatives are expected to support future growth.
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Q2 FY26 saw 9% YoY revenue growth, with advertising up 12% and PAT up 13% after forex adjustments. Print, radio, and digital segments showed resilience, though government and FMCG ad revenues declined. Receivables remain high due to delayed government payments.
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Q1 FY 2026 saw revenue and profit decline YoY due to last year's election-driven high base, but normalized ad revenue and digital engagement showed growth. Print EBITDA margin improved sequentially, and management remains optimistic about future quarters as the election impact fades.
Fiscal Year 2025
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FY 2025 revenue and profit declined slightly YoY due to a high election-driven base, but profitability remained strong with a 26% EBITDA margin. Circulation and digital engagement grew, while government and political ad revenues dropped 25%. Management expects growth to resume, supported by market recovery and operational initiatives.
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Revenue for H1 FY25 grew 2% YoY, with EBITDA up 10.4% and net profit up 12%. Q2 saw a revenue dip due to last year's election base and monsoon, but radio and digital segments posted strong growth. Management expects strong single-digit revenue growth for FY25, supported by soft newsprint prices.
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Q1 FY25 delivered strong growth with ad revenue up 8.4% YoY, EBITDA up 40.4%, and PAT up 49.7%. Newsprint cost fell 17.2% YoY, boosting margins, while digital MAUs surpassed 18 million. Dividend payout increased, with future capital allocation under review.