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HT Media’s digital revenues grow 24.86% to Rs 38.17 Cr in Q1FY17

HT Media

Media company HT Media reported digital revenues of Rs 38.17 crore for the quarter ended June 2016 (Q1 FY17) registering a growth of 24.86% from Rs 30.57 crore in the same quarter last year. On a sequential basis, digital revenues increased marginally to 1.4% from Rs 37.64 crore.

The digital segment’s losses decreased to Rs 13.81 crore compared to Rs 23.8 crore in the same quarter last year. On a quarter-on-quarter basis, losses widened from Rs 10.78 crore. The share of digital in HT Media’s revenues has been increasing steadily. The digital segment accounted for 6.2% of the company’s  total operational revenues. This was 5.2% of operational revenues in the same quarter last year and 6% in the preceding quarter.

Print and publishing continued to be the dominant contributor and accounted for 88.9%  of the company’s total revenue. HT Media owns the newspapers Hindustan Times and Mint, and their corresponding websites, as well as job portal Shine.com and education portal.

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 65% in Q1FY17 compared to Q1FY16. Note, HT Media only discloses Shine’s revenue growth on a yearly basis for each quarter and has never disclosed Shine’s exact revenues.

HT Media’s mobile marketing venture HT Mobile has registered a 3.5% YoY revenue growth for the quarter compared to Q1 FY16.

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Financials

– Total revenue up 4.5% to Rs 614.46 crore from Rs 569.55 crore in the same quarter last year.

– Profit After Tax (PAT) increased 2.1% to Rs 39.3 crore.

– Print Advertising revenue stood at Rs 483.7 crore, an increase of 3.3% from Rs 468.3 crore in Q1 FY16

– Print Circulation revenue: 5.9% increase in circulation revenue to Rs 77.2 crore from Rs 72.9 crore due to higher circulation.

– Radio Business: 35.2% increase in revenue to Rs 33.2 crore in Q1FY17 from Rs 24.5 crore in Q1 last year.

– Radio EBITDA was flat at Rs 9.5 crore.

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