Print advertising lifts HT Media's Q1 revenue 15% to Rs 497 crore

Advertising emerged as the primary growth engine for HT Media in the first quarter of FY27, with print ad revenue rising 15% year-on-year to Rs 295 crore from Rs 256 crore a year earlier. The growth in advertising helped the company post a 15% increase in consolidated revenue to Rs 497 crore for the quarter ended June 30, 2026, while improved cost management significantly boosted profitability.

Within the print business, circulation revenue remained largely stable at Rs 52 crore, compared with Rs 51 crore in the corresponding quarter last year. Overall print operating revenue increased 16% year-on-year to Rs 376 crore, while operating EBITDA surged 244% to Rs 50 crore. Operating EBITDA margin expanded to 13%, up from 4% in Q1 FY26. On a sequential basis, however, print advertising revenue declined 6%, operating revenue fell 12%, and operating EBITDA dropped 49%, reflecting the seasonally softer quarter compared with Q4 FY26.

At the consolidated level, EBITDA rose 224% year-on-year to Rs 90 crore from Rs 28 crore, with the EBITDA margin expanding to 18% from 6% in the year-ago period. Profit after tax (before exceptional items and share of joint ventures) increased to Rs 47 crore, compared with Rs 4 crore in Q1 FY26, lifting the PAT margin to 9% from 1%.

The company's Hindi print portfolio continued to outperform its English business in advertising growth during the quarter. Advertising revenue for Hindustan grew 20% year-on-year to Rs 139 crore, up from Rs 116 crore in Q1 FY26, although it was marginally lower than Rs 142 crore reported in the previous quarter. Circulation revenue stood at Rs 38 crore, compared with Rs 39 crore a year earlier, and remained flat sequentially.

The English print portfolio, comprising Hindustan Times and Mint, recorded 12% year-on-year growth in advertising revenue to Rs 156 crore from Rs 140 crore in the corresponding period last year. Sequentially, however, advertising revenue declined 9% from Rs 172 crore in Q4 FY26. Circulation revenue improved to Rs 13 crore from Rs 12 crore a year ago and remained unchanged on a quarter-on-quarter basis.

The contrast in performance indicates that Hindi publications continued to see stronger advertising momentum than English titles, while circulation revenues across both businesses remained broadly stable.

HT Media's digital business, meanwhile, continued to face headwinds. Operating revenue declined 28% year-on-year to Rs 27 crore from Rs 38 crore and was down 29% from Rs 39 crore in the previous quarter. The operating EBITDA loss remained at Rs 3 crore, broadly unchanged from the year-ago period, while the EBITDA margin stood at negative 12%, compared with negative 8% in Q1 FY26. The company attributed the decline in digital revenue to business portfolio streamlining initiatives undertaken during the quarter.

According to the company, advertising-led revenue growth, coupled with sustained cost discipline, drove margin expansion despite elevated commodity prices. Circulation remained resilient on both a year-on-year and sequential basis, reinforcing the stability of the print business even as advertising continued to account for the bulk of growth.