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HT Media’s digital revenues grow 35% to Rs 140 Cr in FY16; Rs 64 crore loss

Media company HT Media has reported digital revenues of Rs 140.32 crore for the financial year ended 31st March, 2016, and losses of Rs 64.08 crore. Revenues are 35% higher than Rs 103.9 reported in the last financial year, while losses have increased 16% from Rs 55.33 crore for the same period. HT Media owns the newspapers Hindustan Times and Mint, and their corresponding websites, as well as job portal Shine.com and education portal. For the year, Digital was 5.6% of total income, up from 4.5% last year. The company’s newspaper & periodicals printing business still contributes a majority of its revenues. Quarterly growth Rs 37.64 crore for the quarter ended March 31, 2016, registering a 32% growth from Rs 28.6 crore in the same quarter last year. On a quarter-on-quarter basis the digital segment declined 1% from Rs 38.21 crore in the preceding quarter. The losses in the segment also decreased to Rs 10.78 crore compared to the loss of Rs 14.02 crore in the same quarter last year, own 23%. The digital segment had reported losses of Rs 11.07 crore last quarter. Digital was 6% of total revenues for the quarter, up from 4.2% of total revenues for the same quarter last year. Last quarter, digital was 6.7% of revenues. Shine.com and mobile growth According to the company’s presentation, HT Media’s online job portal Shine.com has registered a year-on-year (YoY) revenue growth of around 29% in Q4FY16 compared to Q4FY15. Note, HT Media only discloses Shine’s revenue growth on a yearly basis for each quarter…

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