India’s DB Corp, owners of Dainik Bhaskar group, reported a 44.2 percent fall in quarterly profit as the owner of India’s largest Hindi daily was hit by high newsprint prices, sending shares down as much as 9.5 percent.

DB Corp, which publishes Dainik Bhaskar, reported a consolidated net profit of Rs. 482.8 million ($5.9 million) for the quarter ended December 31, from Rs. 865.2 million a year earlier, a Reuters report from Bengaluru stated.

Its revenue from operations rose 3.7 percent to Rs. 5.66 billion, while total expenses surged 17.1 percent, predominantly driven by a 42.4 percent jump in input costs.

The company also flagged a foreign exchange loss of Rs. 21 million for the quarter.

The media group’s print and digital advertising revenue rose 2.6 percent year-on-year, while radio advertising revenue dropped 3.7 percent.