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

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

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