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HT Media Q2-FY13: Rs 13.31 Crore Digital Revenues; Up 35.7% YoY

Media company, HT Media, has posted digital revenues of Rs 13.31 crore for the quarter ended September 30, 2012 (Q2-FY2013), registering a 35.7% increase from Rs 9.81 crore revenues for the same period last year. It has recorded loss before tax of Rs 9.97 crore for the quarter, a 7.5% decline from Rs 10.78 crore loss before tax, in the same quarter last year.

According to the company presentation, HT Media’s job portal business Shine.com has registered 61% revenue growth year-on-year and has reported 5.2 million engaged candidates for the quarter, up from 2 million in the same quarter last year. HT Media also claimed that HTCampus.com has more than doubled its revenues and its operations have become profitable at a gross margin level.

The company also stated that HT Mobile, its mobile marketing joint venture with Velti has reported a 9% increase in revenues, although there was no word on the exact revenue generated during the quarter. In the previous quarter, HT Mobile had reported revenues of Rs 3.5 crores for the quarter, a 60% increase from the same quarter last year.

During the quarter, the company has invested Rs 3.1 crore in compulsorily convertible debentures of HT Digital Media Holdings Ltd, the holding company of Firefly E-ventures and HT Mobile. Further, the company stated that it has converted 6 lakh compulsorily convertible debentures held by the company into 60 lakh equity shares of HT Digital. HT Media has also invested Rs 2.5 crore in HT Mobile through Inter Corporate Deposit, of which Rs 1.5 crore was repaid during the quarter itself and invested Rs 8.5 crore in Firefly through Inter Corporate Deposit.

Other Significant Details

– Readership of Hindustan Times stood at 3.77 million while the readership of Hindustan stood at 12.21 million.
– Mint readership was at 0.24 million with 28% readership share in Delhi NCR, Mumbai, Bengaluru, Kolkata, Chennai and Ahmedabad put together.
– Total revenue up 5% to Rs 535.1 crore from Rs 511.9 crore in the same quarter last year.
– Print Advertising revenue: 1% decline to Rs 364 crore from Rs 369.2 crore in Q2-FY12.
– Print Circulation revenue: 11% increase to Rs 56.3 crore from Rs 50.7 crore in Q2-FY12.
– Radio Revenues: 27% increase to Rs 19.9 crore from 15.7 crore in Q2-FY12.
– EBITDA: 13% decline to Rs 80.9 crore from Rs 93.2 crore in Q2-FY12.
– Raw materials costs increased by 8% to Rs 195.2 crore from Rs 180.5 crore in Q2-FY12.
– Employee costs increased by 22% to Rs 103.4 crore from Rs 84.9 crore in Q2-FY12.
– Profit After Tax (PAT) declined by 24% to Rs 33.3 crore from Rs 43.8 crore in Q2-FY12.

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