DB Corp Q2 FY27 Revenue Dips 3.3% YoY

Event Type: Q2 FY27 Earnings Conference Call for Investors and Analysts
Date and Time: October 16, 2026 at 4:30 PM IST
Purpose: Discussion of the company's financial performance for Q2 and H1 ended September 30, 2026
Management Participants: Mr. Pawan Agarwal (Deputy Managing Director), Mr. Girish Agarwal (Director), Mr. Lalit Jain (Chief Financial Officer), Mr. Mushtaq Ali (Senior Vice President, Finance and Accounts)
Document Availability: The transcript was uploaded to the company's website at https://www.dbcorpltd.com/financial-results.php within stipulated timelines
Compliance Statement: The call included forward-looking statements involving risks and uncertainties. No specific statement about unpublished price sensitive information (UPSI) was made in this transcript.

Q2 FY27 Performance:

Consolidated Total Revenue: INR614 crores (vs. INR635 crores in Q2 FY26)
EBITDA: INR124 crores (vs. INR115 crores in Q2 FY26)
Profit After Tax: INR69 crores (vs. INR93 crores in Q2 FY26)
Advertising Revenue: INR411 crores (vs. INR439 crores in Q2 FY26)
Circulation Revenue: INR116 crores (vs. INR121 crores in Q2 FY26)
Radio Business Revenue: INR39 crores (vs. INR43 crores in Q2 FY26)
Radio Business EBITDA: INR11 crores (vs. INR13 crores in Q2 FY26)

H1 FY27 Performance:

Consolidated Total Revenue: INR1,246 crores (vs. INR1,222 crores in H1 FY26)
Advertising Revenue: INR843 crores (vs. INR832 crores in H1 FY26)
Circulation Revenue: INR236 crores (vs. INR241 crores in H1 FY26)
EBITDA: INR289 crores (vs. INR297 crores in H1 FY26)
Profit After Tax: INR169 crores (vs. INR174 crores in H1 FY26)
Radio Business Revenue: INR82 crores (stable YoY)
Radio Business EBITDA: INR26 crores (vs. INR24 crores in H1 FY26)

Key Operational Updates:

Newsprint costs increased by 14% during the quarter (21% increase per tonne from INR47,000 to INR57,000) due to geopolitical uncertainties
Company maintains 38 lakh copy circulation (slight decline of ~30,000 copies from previous quarter)
Digital business continues as long-term growth pillar with experiments in subscription pricing (INR149 to INR199)
Monthly Active Users (MAU) declined from 20 million in Q4 to 18 million in Q2 due to reduced marketing spend

Management Commentary:

Festive season timing shift (Navratri moving from Q2 to Q3) impacted advertising revenue by approximately INR40 crores
Underlying business remains stable with positive single-digit growth on like-to-like basis excluding festive impact
Optimistic about H2 FY27 opportunities with festive season expected to support advertising activity
Focus on strengthening advertiser relationships, reader engagement, and competitive advantage across newspapers, radio, and digital

Segment Performance Details:

Real Estate: Single-digit growth (would have been double-digit with festive timing)
Jewelry: Strong performance
FMCG: Down 2% (single-digit growth expected with festive adjustment)
Banking/Financial Services: Strong performance with IPO business up 50%
Healthcare: Strong double-digit growth
Automobile: Flat performance
Education: Single-digit growth

Cost Management:

Focus on procurement efficiencies, cost optimization, and disciplined inventory management
Newsprint inventory: ~1 quarter for imported, 10-15 days for domestic
Other expenses increased due to sales-based events where costs are booked fully against event revenue

Digital Business Update:

Experimenting with subscription pricing models (INR149 to INR199)
Recently hired senior executive for Head of Revenue/Business for digital SBU (some exits occurred)
Revenue streams include advertising, subscription, and technology company contracts
Advertising on app started 4 quarters ago

Cash Position & Dividend:

The document is a regulatory filing submitted to BSE and NSE pursuant to SEBI Listing Regulations 30 and 46
The transcript was filed on October 21, 2026, signed by Om Prakash Pandey, Company Secretary & Compliance Officer
No financial attachments were included with this filing - only the transcript reference
The company explicitly disclosed financial data including revenue figures, cost breakdowns, and segment performance