Financials
Q3-2016: DB Corp print revenue up 22%, radio revenue up 35%; radio op profit almost double
BENGALURU: DB Corp Limited (DB Corp), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar reported 22.5 per cent QoQ increase in Total Income from operations (TIO) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). The company reported TIO of Rs 585.89 crore in the current quarter as compared to Rs 478.33 crore in the immediate trailing quarter. YoY, TIO increased 5.7 per cent as compared to Rs 554.57 crore in Q3-2015.
Revenue growth was driven by a 21.9 per cent QoQ growth in revenue from the company’s print segment at Rs 539.28 crore as compared to Rs 442.24 crore and a 34.9 per cent QoQ growth in the company’s radio segment revenue at Rs 32.32 crore (5.5 per cent of TIO) as compared to Rs 23.96 crore (five per cent of TIO). YoY, revenue from print segment increased 3.9 per cent as compared to Rs 518.9 crore, while radio segment revenue increased 25.8 per cent as compared to Rs 25.69 crore (4.6 per cent of TIO).
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Operating Results/PAT
The company reports revenue from five segments: Printing and publishing of newspaper and periodicals (Printing segment); Radio segment (under the brand My FM); Events; Internet; and power. Two of the segments are major contributors to the revenue – printing and radio and their numbers have been considered in this report.
The company reported 80.7 per cent QoQ growth in profit after tax (PAT) for the current quarter at Rs 108.63 crore (18.2 per cent margin) as compared to Rs 59.12 crore (12.4 per cent margin) and grew 1.6 per cent YoY as compared to Rs 105.11 crore (19 per cent margin).
The company’s print business reported 73.5 per cent QoQ increase in operating profit at Rs 162.91 crore as compared to Rs 93.91 crore and increased 3.3 per cent YoY as compared to Rs 157.76 crore.
Radio business reported almost double the operating profit (grew by 98.7 per cent) QoQ at Rs 12 crore as compared to Rs 6.04 crore and increased 27.1 per cent YoY as compared to Rs 9.44 crore.
Advertisement and subscription revenue
The company says that its advertising revenue declined 0.6 per cent YoY to Rs 391.2 crore in the current quarter as compared to Rs 393.4 crore in the corresponding quarter of last year, but increased 27 per cent QoQ as compared to Rs 307.9 crore. Circulation revenue increased 17.8 per cent in YOY in Q3-2016 to Rs 114.1 crore as compared to the Rs 96.9 crore and grew eight per cent QoQ as compared to Rs 105.7 crore.
DB Corp managing director Sudhir Agarwal said, “The success of our yield strategy has begun delivering encouraging results as we make aggressive efforts to gain back volume growth across our legacy and emerging markets, which have started responding well. We have taken every step to maintain our leadership position and we continue to be the largest circulated newspaper since last three years while we are the fourth largest circulated newspaper in the world – a great honour and responsibility for us. Our focus on stronger operating efficiencies and better expense management has ensured our financial health while softened newsprint costs have also protected our profitability.
Our non-print businesses are well on course as our digital business continues to gather momentum and our radio business strategy maintains commendable progress as we prepare to commence operations of the newly acquired stations over four to six months. The government is in the midst of introducing structural reforms with a long term vision and we believe that present green shoots will translate into a positive pick up for a better economic environment.”
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
