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HT Media Q3 net marginally up at Rs 482 mn

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HT Media Q3 net marginally up at Rs 482 mn

HT Media Ltd’s Q3 FY12 net profit was marginally up at Rs 482 million from Rs 478 million. Total revenue was up 14 per cent for the third quarter ended December 31, 2011 at Rs 5,266 million from Rs 4637 million.

The media conglomerate reported an 11 per cent increase in advertising revenue of the print segment to Rs 4,073 million from Rs 3,686 million primarily driven by advertising yield improvements.

Circulation revenue of the print segment was up 7 per cent at Rs 503 million from Rs 471 million, driven by higher circulation and realisation.

EDBITDA remained stable at Rs 945 million as compared to Rs 947 million, as growth in revenue got offset primarily in account of 13 per cent increase in consumption of raw materials, 23 per cent increase in employees cost and 25 per cent increase in other expenditure, besides foreign exchange loss of Rs 100 million.

Commenting on the performance for Q3 FY12, Shobhana Bhartia, Chairperson and Editorial Director, HT Media Ltd, said, “We are happy to report continued growth in a tough economic environment, resulting on slowing advertising spend and a weakening rupee.”

She further said, “The latest IRS 2011 Q3 results are a reflection of HT Media’s continued strength in the print media segment. Hindustan Times maintained its leadership across the Delhi NCR region while remaining the fastest growing daily in Mumbai. Hindustan consolidated its No. 2 position across the country in terms of total readership while Mint remains the fastest growing business daily further strengthening its No. 2 position. All of the other businesses, namely digital and radio, performed encouragingly.”

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