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HT Media total revenues up 15 pc in FY2012

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HT Media total revenues up 15 pc in FY2012

HT Media Ltd has reported a 15 per cent growth in its total revenues at Rs 20,780 million for the financial year 2012, as compared to Rs 18,102 million in FY11. This growth is a result of 11 per cent hike in advertisement revenues of print segment to Rs 15,358 million primarily driven by advertising yield improvements. HT Media’s FY11 ad revenues stood at Rs 13,888 million.

Circulation revenues during FY12 were up 8 per cent at Rs 1,977 million from Rs 1,828 million in FY11 on account of higher circulation. Radio revenues, too, have shown a hike of 6 per cent to Rs 742 million from Rs 699 million.

However, profit after tax (PAT) declined by 9 per cent in FY12 to Rs 1,655 million from Rs 1,809 million in the previous fiscal.

EBITDA too declined to Rs 3,619 million from Rs 3,660 million primarily driven by a 16 per cent increase in cost of raw material to Rs 7,257 million, 22 per cent increase in other expenses to Rs 6,368 million from Rs 5,233 million on account of increase in scale of operations, foreign exchange loss of Rs 150 million, and a provision of Rs 232 million for diminution in value of investments relating to ‘Partnership for growth’ business.

Commenting on the performance for FY12, in a prepared statement, Shobhana
Bhartia, Chairperson and Editorial Director, HT Media, said, “HT Media’s performance is the result of a product investment strategy that has helped strengthen brand equity and salience. We have further consolidated our position in the print business by expanding our reach across geographies in English, business and Hindi dailies, which is borne out by the latest India Readership Survey findings. In addition, our radio and digital businesses continue to perform according to plans and gain traction.”

She further said, “The company’s focused strategic approach and strong business model will allow it to successfully navigate these tough times.”

The IRS Q4 2011 results validate HT Media Ltd’s growth strategy as it further consolidates its reach across publications. Some key points are:
• Hindustan Times readership grew to 3.7 million; 4 per cent growth over IRS Q4 2010
• Hindustan Times retained its leadership position in Delhi NCR, while consolidating its No 2 position in Mumbai
• Over 0.5 million exclusive readers that are not reached by competition
• Hindi daily Hindustan continued to consolidate its position with an all India average readership of 12.05 million; a growth of 5.2 per cent over IRS Q4 2010
• Hindustan maintained its leadership position in Bihar with a readership share of 74 per cent; continued to be the leader in Jharkhand market with a readership of 1.73 million; continued to be second largest in Delhi NCR with a readership of 1.24 million
• Mint consolidated its No. 2 position in the business daily segment with a readership of 0.26 million; a growth of 30 per cent over IRS Q4 2010
• Readership share of 29 per cent in key markets of Delhi, Mumbai, Bangalore, Kolkata,
• Chennai and Ahmedabad put together
• 81 per cent of the readers are exclusive, that are not reached by competition

Meanwhile, the media group’s digital business also registered encouraging results, with a 25 per cent increase in revenues at Rs 134 million from Rs 107 million in Q4 FY11.

HT Media’s CSR initiative, ‘You Read, They Learn’, has also received encouraging response. The initiative was launched in April 2012, partnering with Pratham Delhi Education Initiative and Child Rights and You (CRY) for bringing underprivileged children to the classroom.

HT Media’s business outlook continues to be strong on the back of growth in advertising yields due to continuous readership growth as per IRS across publications; gaining traction in the digital businesses; and net cash of Rs 5,450 million and net fixed assets of Rs 8,036 million.

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