After UP, Rajasthan, DB Corp in talks with more states on school newspaper reading

New Delhi: DB Corp is in talks with multiple state governments after Uttar Pradesh and Rajasthan mandated newspaper reading in schools, a move the company expects could support circulation trends over the coming quarters.

Calling it “a very encouraging move by the State Government,” Girish Agarwal, promoter-director at DB Corp, said the policy could help build a long-term habit of newspaper reading among students.

“Uttar Pradesh and Rajasthan have done it. As we are following up with the other governments, we are hopeful that Madhya Pradesh, Chhattisgarh, Gujarat and other states will follow suit in the next couple of weeks and months,” Agarwal said during the company’s third-quarter earnings call.

He added that the mandate could provide a near-term boost to circulation for DB Corp and the broader print industry. “This is certainly encouraging, and this will not only help sort circulation for us, but other publications also. But I think this will start making a foundation for school-going kids to read newspapers and earn knowledge going forward,” Agarwal said.

However, Agarwal indicated that the impact may not be immediate, especially in Rajasthan, where the process is still moving through administrative channels. “It will take at least a quarter because now the government has made the policy, the budget has to go to each of them, from finance to education and then to each of the school boards,” he said.

The development comes at a time when DB Corp is working to stabilise its circulation base while navigating uneven advertising cycles. For the quarter ended December 31, 2025, DB Corp reported advertising revenue of Rs 439.5 crore, down 7.8% on-year, impacted by a high base due to festive and election-led advertising in the same quarter last year.

Consolidated revenue stood at Rs 629.3 crore, down 4% on-year, while EBITDA came in at Rs 159.2 crore with an EBITDA margin of 25%. Profit after tax for the quarter was Rs 95.5 crore.

On a sequential basis, DB Corp said print EBITDA margin expanded 100 basis points to 29%, aided by cost control and operating efficiencies.

Agarwal’s comments signal that DB Corp sees policy support as a potential lever to strengthen print consumption among young readers, even as the industry continues to compete with digital platforms for attention.