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Shine.com Reports Loss Of Rs 31.2 Cr In FY13


Media company HT Media has reported digital revenues of Rs 19.24 crore for the quarter ended March 31, 2012. The loss before tax was at Rs 30.51 crore for the quarter. For the year ended March 31, 2012, the company saw digital revenues of Rs 31.19 crore and a loss before tax of Rs 30.29 crore.

HT Media informed that the digital revenues for the quarter and the year ended March 31, 2012, includes the revenues of its job portal Shine.com, which has become a part of the company, following a restructuring arrangement approved by the Delhi High Court. Hence, the digital revenues and results are not comparable with digital revenues of previous quarters and year. In the previous quarter, HT Media had reported Rs 13.79 crore digital revenues and loss before tax of Rs 8.86 crore.

The company’s result presentation however suggests that the digital segment saw a 23% year-on-year growth in revenues to Rs 53.8 crore in fiscal FY13, from Rs 43.6 crore in FY12.

It also claims that Shine.com has registered a 50% revenue growth in FY13 over FY12, while HTCampus.com saw a 65% revenue growth in FY13 over FY12 and HT Mobile saw a 17% revenue growth in FY13 over FY12. Although, there is no word on the exact revenue generated.

Shine.com Demerger: HT Media also informed that Delhi High court has approved a scheme of arrangement and restructuring between the company and its Internet subsidiary Firefly E-ventures Ltd on April 18, 2013 and the scheme has become effective from May 6, 2013. This scheme was approved by Delhi High Court after more than a year since HT Media applied for it. The company had applied for the demerger of Shine.com from Firefly E-ventures and transfer it to within the company on April 1, 2012, following the approval from a majority of its equity shareholders, secured & unsecured creditors of both the companies.

HT Media informed that Shine.com saw a loss before tax of Rs 31.19 crore for the financial year ended on March 31, 2013.


During the quarter, HT Media made two investments in its subsidiaries. These include:

– Rs 6.30 crore in HT Education through equity shares.
– Rs 5.35 crore in HT Digital through compulsorily convertible debentures.  Further, 8 lakh compulsorily convertible debentures worth Rs 100 each, held by the company was converted into 80 lakh equity shares of HT Digital worth Rs 10 each, as per the said debenture issue terms.

HT Media also received an in-principal approval from the company’s board to offload the company’s entire 51% stake in HT Burda Media to Burda Druck GmbH for Rs 60 crore.

Need To Know

– Readership of Hindustan Times was at 3.82 million while the readership of Hindustan stood at 12.25 million.
– Mint readership was at 0.22 million with 28% readership share in Delhi NCR, Mumbai, Bengaluru, Kolkata, Chennai and Hyderabad put together. HT Media claimed that 90% of the readers are exclusive to Mint, which are not reached by its competitors.
– Total revenue up 3% to Rs 525.2 crore from Rs 511.2 crore in the same quarter last year.
– Profit After Tax (PAT) increased by 82% to Rs 40.1 crore from Rs 22 crore in Q4-FY12.
– Print Advertising revenue: 1% increase to Rs 377.8 crore from Rs 373.6 crore in Q4-FY12 due to increase in ad volumes.
– Print Circulation revenue: 19% increase to Rs 57.4 crore from Rs 48.3 crore in Q4-FY12 due to increase in realization per copy.
– EBITDA: 46% increase to Rs 96.4 crore from Rs 66 crore in Q4-FY12.
– Raw materials costs declined by 8% to Rs 170.7 crore from Rs 185.7 crore in Q4-FY12, due to lower newsprint prices and lower consumption. Other expenses declined by 4% to Rs 164.9 crore from Rs 172.7 crore in Q4-FY12 due to decrease in advertising and sales promotions expenses.
– Employee costs increased by 10% to Rs 99 crore from Rs 89.7 crore in Q4-FY12.

DownloadFinancials | Presentation

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