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HT Media Reports Digital Revenues Of Rs 19.4 Cr; Digital Loss Down 23.77% YoY

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Media company HT Media has reported digital revenues of Rs 19.54 crore on a consolidated basis for the quarter ended December 31st 2014 (Q3-FY14), and reduced losses of Rs 7.6 crore. The loss before tax was 23.77% lower than Rs 9.97 reported for the same quarter last year, and 26.14% lower than Rs 10.29 crore reported last quarter, even as revenues were 46.81% higher year on year and 9.71% higher quarter on quarter. The company says that Shine.com revenues were 65% higher in Q3-FY14 than in Q3-FY13.

 

HT Media’s digital businesses have been making losses for years, but there appears to be a consistent growth in revenues, even though losses have largely remained high.

ht-media-q3-fy14

The  consolidated revenues include those earned by HT Media subsidiaries like HT Digital Media Holdings, Firefly e-Ventures, HT Mobile Solutions, as well as digital properties run by HT Media, including Livemint.com, Hindustantimes.com and livehindustan.com. Note that Myparichay Services Pvt Ltd is mentioned in the result as an HT Media associate venture. HT Media had picked up 40% stake in the company a couple of years ago.

 

ht-media-digital-revenues

Investments

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

– Rs 5.89 crore in HT Digital Media Holdings Limited through equity share application money.
– Rs 2.5 crore in HT Education Limited through equity shares.
– Rs 1.95 crore in Topmovies Entertainment Limited through equity shares.
– Rs 0.03 in ED World
– Rs 0.01 cr in HT Global

ht media subsidiaries

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Last quarter, HT Media had sold its 51% Stake in HT Burda Media: After receiving an ‘in-principle’ approval from the company’s board in March 2013, HT Media sold its entire holding of 5.15 crore equity shares (5,15,09,990 shares) of Rs 10 each to Burda Druck GmBH, for an aggregate consideration of Rs 60 crore. The company made a profit of Rs 8.41 crore through the sale of this investment.

Need To Know

– Readership of Hindustan Times was at 4.34 million in 2013, as per the controversial, recent IRS results which have been contested by many key publishers. Hindustan claims a readership of 14.45 million, as per the IRS.
– Mint readership, as per the IRS was at 0.31 million.
– Total revenue up 8% at Rs 617 crore from Rs. 570.9 crore.
– Profit After Tax (PAT) increased by 25% to Rs 67 crore from Rs 53.6 crore in Q3-FY13.
– Print Advertising revenue: 9% increase in advertising revenues of print segment to Rs 451.6 crore from Rs 414.9 crore, primarily driven by increase in advertising yields and volumes.
– Print Circulation revenue: 18% increase to Rs 66.5 crore from Rs 56.5 crore in Q3-FY13 due to increase in realization per copy.
– Radio Revenues: 28% increase to Rs 20.5 crore from Rs 16 crore in Q2-FY13, EBITDA is up 72% to Rs 5.9 crore from Rs 3.5 crore.
– EBITDA: 17% increase to Rs 130.5 crore from Rs 111.3 crore in Q2-FY13, driven by HT Burda stake sale, improved advertising and circulation revenues and decline in raw material costs.
– Raw materials costs increased by 3% to Rs 190.8 crore from 184.7 crore in Q3-FY13, due to increase in newsprint price. Last quarter, the company had reported reduced costs due to lower consumption.
– Employee costs increased by 8% to Rs 105.9 crore from Rs 98.1 crore in Q2-FY13.
– Other expenses also increased by 9% to Rs 189.9 crore from Rs 174.9 crore in Q3-FY13 due to an increase in advertising and sales promotions expenses.

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