“Media spending is a forerunner of consumer, business, and investor sentiment. While the quarter started on a good note with the festival season, the subsequent short-term economic dip affected sentiment and media spends, which impacted advertising revenue for our English and Hindi print businesses. The Hindi print business was also weighed down by the Bihar election related advertising spends in last year’s base
Radio continues to do well for us and we are seeing good traction for our Phase-III stations. We continue to hone our digital strategy and are aligning the organization to leverage our considerable strengths in traditional media, and our brands in the digital world.
We are also constantly challenging ourselves to innovate and do things efficiently with leaner cost structures. This should bear fruits in the coming quarters and further help us deliver on our promise to create value for the shareholders.”
Mrs. Shobhana Bhartia
Chairperson and Editorial Director, HT Media
(Commenting on the results and performance)
• Total Revenue at INR 7,048 million.
• Advertising Revenue de-grew by (5.7%); Circulation Revenues grew by 2.1% vs. last year.
• EBITDA was up by 10.5% at INR 1,653 million; EBITDA margins at 23.5% vs. 21.0% last year.
• PAT grew by 24.8% to INR 1,064 million; PAT margins of 15.1%.
• Strong balance sheet position with healthy cash flows.
• EPS for the quarter stood at INR 3.93 as compared to INR 2.95 in the same period last year.