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HT Media net profit down with decline in advertising revenue

HT Media

Media and newspaper company HT Media reported lower net profit due to decline in advertising revenue for the quarter ended September 2016 (Q2 FY17). However, digital revenues increased 9.8% to Rs 37.3 crore from Rs 33.9 9 crore in the same quarter last year. On a sequential basis, digital revenues declined from Rs 37.64 crore.

The digital segment’s losses stood at Rs 12.86 crore improving from Rs 18.45 crore in the same quarter last year and from Rs 13.21 crore from the preceding quarter. The share of digital in HT Media’s revenues has been increasing steadily. The digital segment accounted for 6.18% of the company’s  total operational revenues. This was 5.64% of operational revenues in the same quarter last year and 6.2% in the preceding quarter.

Net profit was down 0.8% to Rs 51.2 crore from Rs 51.57 crore in the same quarter last year and up 30.44% from Rs 39.25 crore in the preceding quarter. Advertising revenue fell 2% to Rs 466 crore from Rs 475.5 crore in Q2 FY16.

Print and publishing continued to be the dominant contributor and accounted for 86.77%  of the company’s total revenues. HT Media owns the newspapers Hindustan Times and Mint, and their corresponding websites, as well as job portal Shine.com.

Shine.com and mobile growth

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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 40% 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 25% YoY revenue decline for the quarter compared to Q2 FY16.

Financials

– Total revenue up 0.2% to Rs 602.33 crore from Rs 601.1 crore in the same quarter last year.

– Profit After Tax (PAT) decreased 0.8% to Rs 51.2 crore.

– Radio Business: 23.2% increase in revenue to Rs 36.1 crore in Q2FY17 from Rs 29.3 crore in Q2 last year.

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– Radio EBITDA was at Rs 6.8 crore.

Download: Financials | Presentation

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