HT Media has reported Profit After Tax (PAT) of Rs 28.97 crore for the quarter ended September 30. The company reported a loss of Rs 40.78 crore in the same quarter of the previous fiscal year and a loss of Rs 76 crore for the quarter ended Jun 30, 2021. The total income of the company increased by 45.6% to Rs 440.31 crore from Rs 302.41 crore.
“The operating environment improved progressively during the second quarter as the Indian economy gradually emerged from the impact of the second wave. It was marked by a decline in COVID cases, a significant pickup in the pace of vaccination, and a sharp recovery in economic activity driven by improvement in consumption demand and sentiment,” said, Shobhana Bhartia Chairperson and Editorial Director, HT Media Ltd & Hindustan Media Ventures Ltd.
She further added, “The positive macroeconomic scenario prompted businesses to revive consumer outreach through advertising. As a consequence, advertising revenue across our Print and Radio businesses has shown significant improvement over the same quarter last year, with both large and small businesses spending on advertising. Circulation revenue grew well too. Our Shine business reported strong double-digit growth during the quarter, led by Shine Learning. We witnessed improvement in operating profit margins on the back of strong volume growth and better yields, even as commodity prices continued to rise. As the economic indicators continue to improve with the opening up of the economy, we are hopeful of capitalizing on resurgent demand, especially during the upcoming festive season. We continue to stay focused on delivering credible, reliable, and engaging news and analysis, information, and entertainment to our audience.”
Print Business
The company saw a 52% increase in ad revenue to Rs 247 crore against Rs 162 crore in the same quarter last year. Circulation revenue was up by 13% to Rs 50 crore against Rs 45 crore.
The company posted operating revenue of Rs 313 crore from Rs 225 crore.
The company said, “Growth in ad revenue across both Commercial and Government segments was seen while circulation revenue grew on the back of the recovery in copies. Meanwhile, operating profits reported despite the increase in newsprint price and consumption.”
Digital Business
In digital business, the company posted operating revenue of Rs 33 crore in Q2’ FY22 against Rs 21 crore in the same quarter previous year. Operating EBITDA declined by 82%. “Operating revenue saw growth of 56% led by growth in Shine and VC Circle,” said the company.
Radio Business
In the radio business, the company’s operating revenue grew 59% YoY basis to Rs 24 crore against Rs 15 crore. The company noted, “Strong traction in Ad volumes across key stations, while lower operating losses – growth in op revenue while maintaining cost base.”