D B Corp Q1 FY27 Results (NSE: DBCORP)
Signal: Margin expansion
The read
Strong operational performance with EBITDA margin expansion of 250bps YoY driven by advertising revenue growth of 10% and cost control, despite newsprint cost pressure; PAT growth outpaced revenue due to operating leverage.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹603.74 Cr | 7.9% | 4.7% |
| Net profit | ₹100.73 Cr | 24.6% | |
| EPS | ₹5.65 | ||
| EBIT margin | 26.1% |
P&L walk
Revenue grew 8% YoY driven by advertising (+10%) while circulation flat; EBITDA margin expanded 250bps to 26.1% on cost control and operating leverage, lifting PAT 25% YoY.
Segments
Printing segment (93% of revenue) grew 8% YoY, driving consolidated results; Radio segment smaller but grew 8.4% with EBITDA up 29%.
Key positives
- Advertising revenue up 10% YoY to ₹4,320 million, with broad-based demand across Real Estate, Jewellery, FMCG, Government.
- EBITDA margin expanded 250bps YoY to 26.1%, driven by cost optimization and operating leverage.
- PAT up 25% YoY to ₹1,007 million, faster than revenue growth.
- Digital MAUs stable at ~19 million; Dainik Bhaskar remains #1 Hindi and Gujarati News App.
- Interim dividend declared ₹5 per share (50% of face value).
Key concerns
- Circulation revenue flat at ₹1,204 million, indicating no volume growth.
- Newsprint costs saw upward pressure due to macroeconomic/geopolitical factors, compressing gross margin ~100bps YoY.
- Digital MAUs (19 million) flat sequentially (May 2026 vs Jan 2026 16.3 million? Actually press release shows Jan-26 MAU 16.3 million, May-26 15.6 million for Dainik Bhaskar app; overall group ~19 million may be flat).
Research and educational content only. Not investment advice.