| 30 Jan 2023
Q3-2016: HT Media: Higher ad revenue drives 9 percent YOY revenue growth; radio revenue up 25 percent

BENGALURU: HT Media Limited (HT Media) reported 12.5 percent YoY growth in total income from operations (TIO) for the quarter ended 31 December, 2015 (Q3-2015, Q3-15, current quarter) at Rs 681.12 crore as compared to Rs 605.50 crore and a 13.2 percent QoQ growth as compared to Rs 601.55 crore. The TIO growth was driven primarily by a 9.2 percent YoY and 14.4 percent growth in advertising revenues.

HT Media’s radio segment (Fever 104 FM) reported a 25 percent YoY increase in operating revenue to Rs 32.26 crore  (4.7 percent of TIO) as compared to Rs 28.81 crore (4.3 percent of TIO) and grew 10 percent QoQ as compared to Rs Rs 29.34 crore (4.9 percent of TIO).

Note: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The figures mentioned in this report are consolidated figures unless stated otherwise.

The company’s profit after tax (PAT) in Q3-2016 increased 12.4 percent YoY to Rs 80.88 crore (11.9 percent margin) as compared to Rs 63.97 crore (10.6 percent margin) and was more than double (2.22 time) QoQ as compared to Rs 36.42 crore (6.1 percent margin).

Advertising and Circulation revenue

HT Media says that Advertising Revenue grew by 9.2 percent YoY in Qe-2016 to  Rs 542.5 crore (76.6 percent of TIO) as compared to Rs 496.7 crore (76.4 percent of TIO)  and increased 14.4 percent QoQ as compared to Rs 475.2 crore (78.8 percent of TIO).

Circulation revenue in the current quarter increased 4.8 percent to Rs 76.9 crore (10.9 percent of TIO) and as compared to Rs 75.4 crore (15.9 percent of TIO) and grew 2.1 percent QoQ as compared to Rs 75.4 crore (12.5 percent of TIO).

Let us see how the segments performed

Three segments’ contribute to HT Media’s numbers - (1) Printing and publishing of newspapers and periodicals (Publishing) (2) Radio and (3) Digital.

HT Media’s publishing segment reported 9.8 percent YoY growth Q3-2016 in revenue at Rs 607.29 crore (89.2 percent of TIO) as compared to Rs 553.20 crore (91.4 percent of TIO) and grew 12.9 percent QoQ as compared to Rs 538.08 crore (89.4 percent of TIO).

The publishing segment reported 41.2 percent higher YoY operating profit of Rs 110.82 crore in the current quarter as compared to Rs 78.49 crore and was 41 percent more QoQ as compared to Rs 65.36 crore.

HT Media has four FM radio stations – ‘Fever 104’ in Delhi, Mumbai, Bengaluru and Kolkata.

Radio segment revenue numbers have been mentioned above. HT Media’s radio segment reported 21 percent decline in operating profit in Q3-2016 at Rs 7.46 crore as compared to Rs 9.44 crore, but was 94.3 percent more QoQ than of Rs 3.84 crore.

The company’s digital segment reported 43.4 percent YoY growth in the current quarter to Rs 38.21 crore (5.6 percent of TIO) as compared to Rs 26.65 crore (4.4 percent of TIO) and was 12.7 percent higher QoQ as compared to Rs 33.91 crore (5.6 percent of TIO)

Digital segment reported lower YoY loss of Rs 11.07 crore in Q3-2016 as compared to Rs 1442 crore, and lower QoQ loss as compared to Rs 18.35 crore.

The company reported unallocated losses of Rs 13.31 crore in Q3-2016; of Rs 12.13 crore in Q3-2015 and of Rs 15.40 crore in Q2-2016.

Company Speak

HT Media chairperson and editorial director Shobana Bhartia said, “We are happy to report a strong quarter of growth across all our core businesses on the back of an increase in advertising spends during the festive season. Growth in revenue and our continuing focus on costs have resulted in higher profitability. Our Hindi business continues to grow profitably; HT Mumbai & HT Delhi businesses saw year-on-year revenue growth; we successfully re-launched the Chennai radio station; and our digital businesses have reduced losses even as they have grown revenues. With momentum on our side, we expect to close the financial year on a strong note. The company is well positioned to seize any opportunity that comes its way.”