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HT Media FY10 net consolidated revenue up 6 pc at Rs 14,379 mn

HT Media FY10 net consolidated revenue up 6 pc at Rs 14,379 mn

Author | exchange4media News Service | Wednesday, May 12,2010 9:01 AM

HT Media FY10 net consolidated revenue up 6 pc at Rs 14,379 mn

HT Media Ltd has reported a 6 per cent increase in its net consolidated revenue at Rs Rs 14,379 million, as against Rs 13,591 million last year. This increase has been on account of net increase of Rs 586 million in revenue from its print segment, while revenue from its radio segment recorded a 52 per cent growth of Rs 431 million.

Circulation revenue was up 20 per cent at Rs 1,833 million from Rs 1,531 million due to rise in circulation numbers and improved realisations. Advertisement revenue registered a marginal growth of 1 per cent at Rs 11,439 million on account of growth in volumes and improvement in price realisations.

Meanwhile, the net income increased from Rs 9 million last year to Rs 1,359 million on account of reduction in financial expenses resulting from reduced borrowings, in addition to the factors contributing to improving in EBITDA.

Meanwhile, the net consolidated revenue for the fourth quarter ending March 31, 2010 grew by 12 per cent at Rs 3,851 million from Rs 3,224 million. This was due to a net increase of Rs 372 million in revenue from the print segment, which was primarily on account of an 8 per cent increase in ad revenue at Rs 3,017 million and 5 per cent growth in circulation revenue at Rs 429 million.

Revenue from the radio segment recorded a growth of 77 per cent at Rs 135 million in Q4 FY10 on account of increased advertising.

Commenting on the Q4 FY10 performance, Shobhana Bhartia, Chairperson and Edirotial Director, HT Media, said, “The just concluded quarter and financial year has been extremely good and gives us optimism for the future. All our businesses have shown good growth. Our Hindi business has performed exceedingly well. We are enthused with the results of the inaugural quarterly IRS with both Hindustan Times and Hindustan clearly showing robust readership growth.”

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