D.B.Corp Reports Strong Q2 FY26 Performance, Releases Concall Transcript
D.B.Corp reported strong Q2 FY26 results with 12% ad revenue growth and 13% PAT growth. It expanded its radio network with 14 new stations and maintained digital leadership. H1 FY26 saw overall revenue growth, though profit declined.
The strong Q2 performance and strategic initiatives in radio expansion and digital user growth are positive indicators. However, the decline in H1 FY26 profit and challenges in growing circulation in some markets, along with government receivables, temper the overall impact to medium.
The company reported strong Q2 FY26 financial performance with double-digit growth in advertising revenue and PAT. Management expressed a positive outlook for future demand and stable input costs, alongside strategic expansions in radio and digital, indicating confidence despite H1 profit decline.
D.B.Corp Limited has released the transcript of its conference call for investors and analysts, held on Thursday, October 16, 2025, discussing the company's financial performance for the second quarter and half year ended September 30, 2025.
* Q2 FY26 Financial Highlights: * Advertising revenues grew 12% year-on-year to ₹447.8 crore (₹4,478 million), with high single-digit growth excluding early festive benefits. Quarter-on-quarter advertising revenues rose by approximately 13%. * Total revenues increased 9% year-on-year to ₹634.7 crore (₹6,347 million). * Circulation revenues rose 3% year-on-year to ₹120.8 crore (₹1,208 million), maintaining steady traction. * EBITDA stood at ₹158.4 crore (₹1,584 million), a 10% year-on-year growth, after adjusting for a FOREX loss of ₹0.9 crore (₹9 million). * Profit After Tax (PAT) was ₹93.5 crore (₹935 million), reflecting a 13% year-on-year growth, after adjusting for a FOREX loss of ₹1.5 crore (₹15 million). * Newsprint prices remained soft, averaging ₹47,000 per metric tonne, expected to stay range-bound. * Radio Business: * Advertising revenue grew 4% year-on-year to ₹43 crore (₹430 million). * EBITDA for the segment was ₹13 crore (₹130 million). * The company announced the addition of 14 new radio stations, expanding its network to 44 stations, with 7 locations featuring D.B.Corp as the sole operative private FM station. These are expected to be operationalized between January and March next year. * Digital Business: * Monthly active users on the app reached 20 million as of August 2025, maintaining leadership in Hindi and Gujarati digital news. * Successfully launched the Uttarakhand state digital app. * H1 FY26 Consolidated Performance: * Total revenues grew 2% year-on-year to ₹1,221.9 crore (₹12,219 million). * Advertising revenues grew 2% year-on-year to ₹845.5 crore (₹8,455 million). * Circulation revenue grew 2% year-on-year to ₹241.1 crore (₹2,411 million). * EBITDA was ₹296.8 crore (₹2,968 million) compared to ₹335.1 crore (₹3,351 million) in H1 FY25. * Net profit was ₹174.3 crore (₹1,743 million) compared to ₹200.4 crore (₹2,004 million) in H1 FY25, after adjusting for a FOREX loss of ₹1.75 crore (₹17.5 million). * Management Outlook: * The management noted a decent set of numbers for Q2 and H1 FY26, indicating sustained advertiser interest, steady leadership traction, and healthy cost management. * Q2 performance benefited from positive macro trends and an early festival season, driving double-digit growth in key categories like real estate, automobile, jewelry, education, health, and banking, despite weakness in government and FMCG advertising. * The company remains positive about the demand environment, supported by the strong festival season, stable input costs, and encouraging consumer sentiment. * Efforts are underway to address stagnant circulation numbers in certain markets, with MP and Rajasthan performing decently, while Bihar, Jharkhand, Maharashtra, Punjab, and Haryana need improvement. * The company is actively pushing for mandatory radio receivers in mobile handsets.
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