DB Corp FY25 net at Rs 3,710 mn despite tough Q4, signals robust recovery ahead

New Delhi: DB Corp (DBCL), publisher of flagship newspapers like Dainik Bhaskar, Divya Bhaskar, Divya Marathi, and Saurashtra Samachar, announced its financial results for the fiscal year ended March 31, 2025, showcasing resilience amid challenging market conditions. 

The company reported a Profit After Tax (PAT) of Rs 3,710 million for FY25, recording a 38% CAGR growth over the past three years, despite a slowdown in the fourth quarter driven by global economic headwinds and a high base from last year’s election-driven performance.

For FY25, D B Corp recorded total revenue of Rs 24,212 million, a slight dip from Rs 24,821 million in FY24, with an EBITDA of Rs 6,270 million and an EBITDA margin of 26%. 

The print business maintained a strong EBITDA margin of 30%, bolstered by soft newsprint prices, efficient cost management, and favourable foreign exchange movements.

Advertisement revenue for the year stood at Rs 16,899 million, achieving a 13% CAGR growth over the last three years, while circulation revenue remained steady at Rs 4,734 million.

The company’s radio business also outperformed industry benchmarks, registering a 4.4% year-on-year (YOY) increase in advertising revenue to Rs 1,663 million and a 1.3% YOY growth in EBITDA to Rs 558 million.

The fourth quarter (Q4FY25), however, reflected the impact of a cautious advertising market and a high base from Q4FY24, which was buoyed by election-related spending. 

Total revenue for Q4FY25 was Rs 5,668 million, down 11.7% from Rs 6,418 million in Q4FY24, with advertising revenue at Rs 3,841 million (a 13.8% YOY decline) and EBITDA at Rs 1,017 million (a 48.3% YOY drop). 

Net profit for the quarter stood at Rs 523 million, compared to Rs 1,225 million in the same period last year. 

Despite the quarterly challenges, D B Corp highlighted a silver lining in its circulation strategy, with a significant addition of copies across markets in Q4FY25, reaffirming the enduring relevance of print media in India.

Sudhir Agarwal, Managing Director of D B Corp Ltd, said, “Our full-year results reflect a modest slowdown after three years of impressive growth, primarily due to a cautious stance by advertisers in the fourth quarter and the high base of last year’s election-driven surge. However, the standout achievement this quarter has been our rising circulation numbers, which validate the enduring power of print media and give us optimism for the quarters ahead. We are also seeing encouraging signs of recovery in advertising revenues, and with India’s robust consumption-driven growth, we expect to return to our growth trajectory soon.”

A key factor in D B Corp’s profitability was the 13% YOY reduction in newsprint costs, with the average cost dropping to Rs 47,550 per metric tonne in FY25 from Rs 51,900 in FY24. The company anticipated newsprint prices to remain soft in the coming quarters, subject to dollar exchange fluctuations, further supporting its margins.

D B Corp’s digital business continued to be a growth engine, solidifying its position as the #1 Hindi and Gujarati news app in India. The company’s apps saw a remarkable increase in monthly active users, growing from 2 million in January 2020 to approximately 20 million by March 2025, according to Comscore data. Dainik Bhaskar’s mobile app alone recorded 16.1 million monthly unique visitors in March 2025, far outpacing competitors like Aaj Tak (2.6 million) and ABP Live News (0.5 million).

“Our digital ecosystem continues to gain momentum, solidifying our integrated leadership across all platforms,” Agarwal added, emphasising the company’s focus on high-quality, hyperlocal content and innovative user engagement strategies.

Looking ahead, D B Corp remains optimistic about India’s economic outlook, citing positive triggers like income tax benefits, the implementation of the 8th Pay Commission, and the likelihood of a normal monsoon. 

“We continue to remain focused on strengthening our market position and pursuing meaningful opportunities for expansion and innovation,” Agarwal concluded.