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HT Media Q1 FY15 revenues up 3%; digital, radio biz report steady growth

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HT Media Q1 FY15 revenues up 3%; digital, radio biz report steady growth

HT Media has reported 3 per cent hike in its total revenues for the first quarter ended June 30, 2014 at Rs 5,859 million as compared to Rs 5,685 million in the corresponding quarter of the previous fiscal. Net income, however, was lower by 31 per cent to Rs 327 million from Rs 475 million.

Digital business continues to report steady growth
HT Media garnered 39 per cent increase in revenues from the digital segment at Rs 237 million from Rs 171 million in Q1 FY14.

Job portal has registered revenue growth of 41 per cent in Q1 FY15 over Q1 FY14. HT Mobile reported a revenue growth of 54 per cent in Q1 FY15 over Q1 FY14.

Robust performance from radio business continues
Revenues from the radio business stood at Rs 240 million in Q1 FY15, as against Rs 214 million in Q1 FY14, an increase of 12 per cent.

EBITDA was up by 79 per cent to Rs 93 million from Rs 52 million, while margin improved to 39 per cent from 24 per cent during the same period.

Print business reports muted growth
HT Media has seen 3 per cent increase in advertising revenues of the print segment to Rs 4,214 million in Q1 FY15 from Rs 4,095 million, primarily driven by increase in advertising yields.

Circulation revenues of print segment reported 13 per cent increase to Rs 686 million from Rs 608 million, primarily driven by increase in realisation per copy.

EBITDA was lower by 4 per cent to Rs 1,014 million from Rs 1,055 million, primarily driven by:
• 8 per cent increase in cost of raw material consumed to Rs 1,857 million from Rs 1,715 million due to increase in newsprint price

• 19 per cent increase in employee cost to Rs 1,252 million from Rs 1,055 million due to impact of new hiring, increments and a charge for regulatory compliance

HT Media’s business outlook continues to be strong on the back of:
• Increasing returns in new businesses such as HT Mumbai, radio and Hindi business to contribute towards revenue growth and improved profitability

• Gaining traction in the digital businesses

• Strong balance sheet capable of supporting investments in growing businesses whilst exploring new opportunities - Net cash of Rs 9,683 million

Commenting on the performance for Q1 FY2015, Shobhana Bhartia, Chairperson and Editorial Director, HT Media said, “Healthy growth in advertising yields and net realisations across all our dailies helped us weather a challenging quarter for print media. Our diversification strategy continues to work well; HT Mumbai is consolidating its position as a strong No 2. Hindustan has emerged as a strong growth engine for the company. Our digital businesses continue to gain traction and our radio business continues to outperform.”

She further said, “Overall, we remain optimistic on the medium term outlook for HTML, given that both economic and industrial growth have bottomed out. We believe there will be significant opportunities for the company as the economic environment improves.”

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