Media company HT Media has reporting digital revenues of Rs 11.67 crore for the quarter ended 31st December 2011 (Q3-FY12), up from Rs 8.27 crore for the same period last year, and a loss of Rs 9.34 crore, down from a Rs 10.55 crore loss last fiscal. The company said that it would continue investments in the digital business for long term growth.
The HT Media Investor Relations team had earlier clarified to MediaNama that 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. HT Media also has a 65:35 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, a part of Firefly e-Ventures, was to be amalgamated with HT Media. However, the decision was withdrawn owing to ‘business considerations’.
The company, in a stock exchange filing has informed that the Board of Directors of the Company and its subsidiary Firefly e-ventures Ltd (FEVL), have now approved in-principle, the demerger of Shine.com and transfer and merge it it into HTML, in terms of a Scheme of Arrangement and Restructuring to be approved by the Delhi High Court.
HT Media entered into a 50:50 JV agreement with Apollo Global Singapore holdings to run an education related venture- India Education Services Pvt Ltd.
The company invested Rs 9 crore in compulsorily convertible debentures of HT Digital Media Holdings.
According to a company presentation, Shine.com has a resume database of 8.5 million candidates, and HT Campus has a database of 27,000 institutes and 600,000 candidates.
HT Media Q3-FY12 Results
– Total revenues up 14% YoY at Rs. 526.6 crore from Rs. 463.7 crore. PAT up to Rs. 48.2 crore from Rs. 47.8 crore
– Print Advertising Revenues: Up 11% print segment to Rs. 407.3 crore from Rs. 368.6 crore driven by advertising yield improvements.
– Print Circulation Revenues: Up 7% YoY to Rs. 50.3 crore from Rs. 47.1 crore driven by higher circulation
– Newsprint: Cost of raw material increased to Rs. 187.7 crore from Rs. 165.9 crore, due to higher circulation and newsprint prices
– Radio: Decline in revenue from Radio & Entertainment segment to Rs. 17.4 crore from Rs. 18 crore.
– HT Burda: Printing revenues of Rs 22.6 crore.
– EBITDA Loss at 1.7 crores reduced from Rs 4.9 crore
(Update: in the first paragraph, we’d incorrectly mentioned the loss had increased, when it had reduced. our apologies. the error has been corrected)