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HT Media Q3 FY14 PAT up by 25% at Rs 67 cr

Increase in ad revenue and circulation revenue of print segment contribute to higher profits

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BestMediaInfo Bureau
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HT Media Q3 FY14 PAT up by 25% at Rs 67 cr

Increase in ad revenue and circulation revenue of print segment contribute to higher profits

BestMediaInfo Bureau | Delhi | February 13, 2014

HT_MediaHT Media Ltd has reported strong financial performance in the third quarter of FY 2014. For the quarter ended December 31, 2013, HT Media's PAT was up by 25 per cent at Rs 670 million from Rs 536 million in the corresponding quarter of last year. The company reported a 17 per cent increase in EBITDA to Rs 1,305 million from Rs 1,113 million.

Q3 FY2014 Performance Overview (all comparisons with Q3 FY2013):

Total revenues went up by 8 per cent to Rs 6,170 million from Rs 5,709 million. There was 9 per cent increase in advertising revenues in print segment to Rs 4,516 million from Rs 4,149 million primarily driven by increase in advertising yields and volumes.

Circulation revenues of print segment went up by 18 per cent to Rs 665 million from Rs 565 million primarily driven by increase in realisation per copy.

There was 8 per cent increase in employee cost at Rs 1,059 million against Rs 981 million.

Digital business: 42 per cent increase in revenues from digital segment to Rs 195 million from Rs 138 million; Shine.com registers revenue growth of 65 per cent in Q3 FY14 over Q3 FY13

 

Radio Business: 25 per cent increase in revenues to Rs 267 million from Rs 214 million in Q3 FY13; 166 per cent increase in EBITDA to Rs 102 million from Rs 38 million

 

HT Mumbai: Revenue growth of 27 per cent; achieves operational breakeven in Q3 FY14

Commenting on the performance for Q3 FY2014, Shobhana Bhartia, Chairperson and Editorial Director, HT Media, said, “We are glad to report a healthy growth in revenue and profit this quarter. We have achieved our highest topline and EBITDA this quarter despite continued uncertainty in the macroeconomic environment.”

Bhartia added, “We are encouraged by the results of the recent Indian Readership Survey (IRS) which confirms our strong brand salience among English and Hindi dailies. We are now a clear No. 2 in the markets of Mumbai and UP and No. 1 in Uttarakhand. We have also retained our leadership positions in Delhi, Bihar and Jharkhand.”

“Among our new businesses, digital and radio continue to gain traction, and we recently launched the first two centres of our higher education venture, the Bridge School of Management. We are confident that our diversified business model, established brands and sustained focus on cost reduction will continue to create value for all stakeholders as the macroeconomic environment improves,” she said.

Info@BestMediaInfo.com

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