HT Media reported a net loss of Rs 21.48 crore for Q2FY20, a 42% reduction from Q2FY19 when the net loss was Rs 37.3 crore. The company’s consolidated total revenue increased by 2% to Rs 580 crore year-on-year. However, compared to the last quarter, HT Digital’s revenue fell to 18.92 crore from Rs 20.54 crore, but HT Media’s Shobhana Bhartia said that the company’s online recruitment portal, Shine, “has shown good progress and continues to grow”. The company hasn’t released numbers for Shine separately.
The company’s EBITDA (Earnings before interest, tax, depreciation and amortisation) more than doubled and grew by 139% YoY at Rs 47 crore during the quarter.
Expenses decreased from Rs 379.9 crore in the same quarter last year to Rs 350.2 crore in this quarter. While the company managed to cut back on the cost of materials consumed, its depreciation expenses increased to Rs 30.4 crore from Rs 25.6 crore in Q1FY20.
Please note that HT Media hasn’t released ad-revenues for its digital verticals.