Update 2: The HT Media Investor Relations team has clarified to MediaNama that there has been a change in the classification of Digital segment revenues from this quarter onwards. Digital segment revenues for HT Media constitute advertising on LiveMint.com, Hindustantimes.com, LiveHindustan.com, HTCampus.com and Desimartini.com, as well as revenues from HT Mobile (JV with Velti PLC) and revenues from the Shine.com recruitment business.
Update: The company had given segmented information alongwith its consolidated results. The post below has been edited to incorporate those details:
Media company HT Media has reporting digital revenues of Rs 8.6 crore for the quarter ended 30th June 2011 (Q2-FY11), up from Rs 6.2 crore for the same period last year, and a loss of Rs 11.99 crore, up from a Rs 9.84 crore loss last fiscal.
However, it’s hard to tell what exactly HT Media means by ‘Digital’, given the complex reporting of its Internet and mobile business; for the same period last year, it had reported Internet segment revenues reported in Q1 last fiscal of Rs 2 crore.
HT Media has previously not disclosed revenues that it earns from advertisements on LiveMint.com, Hindustantimes.com and Hindustan, as a part of its Internet segment revenues; HT Media also has a mobile solutions joint venture with Velti PLC called HT Mobile, and revenues for that company are typically not disclosed separately. Firefly e-Ventures and HT Mobile are held by HT Digital Media Holdings Ltd. Shine.com, previously a part of Firefly e-Ventures, has now amalgamated with HT Media. So what exactly are HT Media’s ‘Digital’ segment revenues? We’ll update in case we hear back from the company.
According to the presentation, Shine.com has a resume database of 7 million candidates, and HT Campus has a database of 24,000 institutes and 400,000 candidates.
During the quarter, HT Media invested Rs 3.64 crore in HT Digital Media Holdings Ltd during the quarter, for Compulsorily Convertible Debentures.
HT Mobile & Firefly in FY11
HT Media typically shares limited information on the performance of its mobile solutions subsidiary – HT Mobile, a joint venture with Velti PLC in which it owns 65% stake. According to HT Media’s FY11 annual report:
– HT Mobile reported a turnover of Rs 6.16 crore for the financial year ended 31st March 2011, with a loss before tax of Rs 1.66 crore, and a loss after tax of Rs 1.17 crore.
– Firefly e-Ventures reported a turnover of Rs 10.42 crore for the financial year, with a loss before tax of Rs 39.98 crore, and a loss after tax of Rs 27.79 crore. Note that much of this loss is likely to have been incurred by Shine.com, which was amalgamated into HT Media at the end of the fiscal. HT Media itself is a significantly profitable company, and taking Shine’s losses on board would help provide HT Media with tax benefits.
HT Media Q1-FY12 Results
– Total revenues up 23% at Rs. 496.9 crore from Rs. 405.1 crore. PAT up by 24% to Rs. 51.5 crore from Rs. 41.4 crore
– Print Advertising Revenues: Up 17% print segment to Rs. 384.4 crore from Rs. 328.9 crore driven by advertising yield improvements.
– Print Circulation Revenues: Up 3% to Rs. 48.5 crore from Rs. 46.8 million driven by higher circulation
– Newsprint: Cost of raw material increased to Rs. 173.7 crore from Rs. 134.5 crore, due to higher circulation and newsprint prices
– Radio: 75% increase in revenue from Radio & Entertainment segment to Rs. 21.5 crore from Rs. 12.3 crore. EBITDA up to Rs 3.4 crore, with EBITDA margin 16%.
– HT Burda: Printing revenues of Rs 24.5 crore, and achieves EBITDA break even.
– Reported the highest ever EBITDA at Rs. 104.9 crore, grows by 22% from Rs. 85.7 crore, led primarily by advertising growth and enhanced contribution from Radio.