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HT Media Reports FY11 Internet Revenues Of Rs 10.4 Crore

For the quarter ended March 31st 2011, HT Media has reported revenues of Rs. 3.65 crore for its Internet business, which includes the jobs classifieds site Shine.com, education portal HT Campus and social networking portal DesiMartini.com. Revenues for the segment are up 78% quarter on quarter, and 28% higher compared to Q4FY10. Losses for the Internet segment were up to Rs. 10.78 crore, almost stable comparing the previous quarter. In terms of revenues, typically, Q4 is the best quarter for the job portal business, which we assume constitutes a majority of HT Media’s “Internet” segment revenues, which do not include revenues from Livemint.com and Hindustantimes.com.

Download: Financials

More importantly, this may well be the last quarter for which revenues from Shine.com have been reported as a part of Internet revenues. Shine.com’s merger with HT Media (supposed to be effective April 1st 2011) is still awaiting approval of the Delhi High Court.

During the quarter, HT Media also invested Rs 1 crore in compulsorily convertible debentures in HT Digital Media Holdings Ltd, the holding company for Firefly e-Ventures and HT Mobile, and another Rs 1 crore in HT Education Limited.

Annual Results

HT Media’s Internet division registered revenues of Rs 10.40 crore in FY11, an increase of 85.3% over last year’s revenues of Rs 5.61 crore. Losses were up from Rs 37.79 crore in FY10 to Rs 39.67 crore in the year ended 31st march 2011.

In an investor release, the company informs that Shine.com, continues to gain revenue traction;  like it did last quarter, says that new registrations are “close to the run rate of industry peers”, referring to Info Edge owned Naukri.com, which is the only company that publishes this information publicly. Shine, according to HT Media, has a resume database of 6.5 million, an increase of 0.5 million since last quarter.

For yet another quarter, there are no details on the status of HT Media’s Velti partnership, except that it “continues to gain momentum with increase in mobile ad campaigns”. Again, a statement we also read last quarter.

HT Media also says that HTCampus.com has a database of 15,000 institutes, and traffic of 2.5 million pageviews a month.

HT media, in its investor presentation says that it will continue investments in the digital space to “build long term growth engines.”

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