For the quarter ended June 2010, HT Media’s Internet business Firefly eVentures (under which are jobs classifieds site and social networking portal has experienced a 30% fall in revenues to Rs. 20 million from Rs. 28.6 million in the previous quarter. The segment’s EBITDA losses have reduced year on year to Rs. 87.4 million, but are again up sequentially. The sequential decline in performance is understandable: Firefly business is dominated by the, and job classifieds tend to do well in Q4, as HR departments spend the remainder of their hiring budgets. crossed 5 million registered users in the quarter. Mint forayed into Gujarat with the launch in Ahmedabad on July 13.

HT Media’s annual report for the full year ended March 31st 2010 also has details of the financial performance of three digital businesses of HT Media: Firefly, HT Mobile (in which HT Media owns 65%) and their holding company HT Digital. During the year, Firefly faced a challenge from a petition from creditors, in the form of a winding up petition, alleging non-payment of certain dues. The matter was settled. While we’ve reported the details for Firefly e-Ventures before, it’s interesting to note that HT Mobile, the joint venture between Velti Plc and HT Media, reported a turnover of Rs. 11.93 million, and a loss after tax of Rs. 16.92 million.

Download: Release | FinancialsPresentationFY10 Annual Report

School On Web

HT Media bought a 23% stake in School On Web Pvt Ltd for Rs. 25 million, according to its annual report. No further details were available in the report, but searching online, we found revealed School Onweb to be a website design software package for educational institutions. It was developed by Quibus Technologies, a venture of Jaipur-based Guru Interactive Web Solutions.

As we’d reported earlier, HT Media launched, an online portal for students.

HT Media Q1 FY2011 Results

Net consolidated revenues grew 20% year on year to Rs. 4,042.1 million with a boost in ad revenues, which have grown 22% to Rs. 3,286 million from Rs. 2,694 million year on year. Circulation revenue has stepped up to Rs. 468 million.

Revenue growth from the radio business Fever 104 has decelerated to 39% to Rs. 123 million. Its EBITDA is at Rs. 11 million, compared to a negative EBITDA of Rs. 14 million last year.

The consolidated EBITDA margins expanded to 21% at Rs. 857 million from 19% at Rs. 644 million in the corresponding quarter last year. Net profit margins have expanded to 10% from 8% thanks to lower newsprint prices and increasing contribution from radio segment and Firefly. EPS for the company stood at Rs. 1.76 compared to Rs. 1.22 in the quarter ended June 2009. Its net debt is at Rs. 700 million.


HT’s Hindi business subsidiary Hindustan Media Ventures Limited was listed on the bourses after recording sharp growth, with consolidated revenues growing 20% to Rs. 1,328 million in the quarter.

Highlights of the issue: 16.27 million shares were issued at Rs. 166 per share; the issue was over subscribed 4.89 times. Its proceeds will be used to set up new publishing units, upgrade existing plant and machinery in U.P., Bihar & Jharkhand as well as to prepay long term loans taken by the company.

Investments In The Quarter

The parent company invested Rs. 80 million in CCDs in HT Digital Media Holdings and Rs. 150 million in HT Burda Media, its joint venture with Burda Druck of Germany, which started commercial third party printing and pre-press work in March 2010.


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