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HT Media digital revenues at Rs 26.65Cr for Q3-FY15; Shine revenue growth bounces back

HT Media

Media company HT Media has reported digital revenues of Rs 26.65 crore for the quarter ended December 31, 2014, registering a 36.4% growth from Rs 19.54 crore in the same quarter last year and a 6.9% growth from Rs 24.93 crore in the previous quarter.

The segment however continued to report losses: Rs 14.4 crore loss for the quarter as against Rs 7.60 crore loss in the same quarter last year and Rs 14.70 crore loss in the previous quarter.

Shine.com bounces back

According to the company presentation, HT Media’s job portal business Shine.com has registered a 43% year-on-year (YoY) revenue growth for the quarter, as compared to a 28% YoY revenue growth in the previous quarter, which was also its lowest ever revenue growth since HT Media started disclosing Shine’s revenue growth in Q1-FY13. Note that HT Media only discloses Shine’s revenue growth on a yearly basis for each quarter and has never disclosed Shine’s exact revenues.

On the other hand, HT Media’s mobile marketing venture HT Mobile has registered a 44% YoY revenue growth for the quarter, as compared to 54% in the previous quarter.

Digital contributes only 4.40% of HT Media’s revenues

It’s also worth noting that digital revenues accounted for just 4.40% of HT Media’s operational income that was at Rs 605.50 crore for the quarter. The company’s newspaper & periodicals printing business still contributes a majority of its revenues, accounting for 91.4% of HT Media’s operational income for the quarter.

Financials

Total revenue up 5% to Rs 649.90 crore from Rs 618.95 crore in the same quarter last year.
Profit After Tax (PAT) declined marginally by 1% to Rs 73.9 crore from Rs 74.7 crore in Q3-FY14.
Print Advertising revenue: 3.9% increase to Rs 467.93 crore from Rs 450.5 crore in Q3-FY14 due to increase in advertising volume & yields.
Print Circulation revenue: 10% increase to Rs 73.4 crore from Rs 66.5 crore in Q3-FY14 due to increase in circulation & net realization per copy.
Radio Business: Revenue decreased by 3% to Rs 25.8 crore from Rs 26.7 crore in Q3-FY14. EBITDA up 35% to Rs 13.8 crore for the quarter, from Rs 10.2 crore in the same quarter last year while the EBITDA margin improved to 53% from 38% in the same quarter last year.
EBITDA remained flat at Rs 130.6 crore from Rs 130.5 crore in Q3-FY14, primarily due to 14% increase in employee costs and 18% increase in advertising and sales promotion expenses.
– Employee costs increased by 14% to Rs 120.5 crore from Rs 105.9 crore in Q3-FY14 due to new appointments, increments to existing employees and a charge for regulatory compliance.

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