HT Media narrows losses by 52% in Q2FY20

HT Media Monday reported a consolidated net loss of Rs 21.48 crore for the quarter ended September 30  of FY20. The company had reported a loss of Rs 44.33 crore in the year-ago period.

Total income rose to Rs 580.02 crore as compared with Rs 570.97 crore in the same period of the previous fiscal  (increase of 2% Vs last year), HT Media said in a regulatory filing.

EBITDA for Q2’20 increased by 139%, and margins at 14% vis-à-vis 6% in previous year, driven by softening of newsprint prices and continued focus on cost.

"Slowing economic growth has hit advertising spends in key categories, putting pressure on revenues across the media industry. As a result, our Print and Radio (on like-to-like basis) businesses saw revenues dip as compared to a year-ago. However, thanks to lower commodity prices and a tight control on costs, we saw an improvement in our operating profit. On the digital front, Shine, our online recruitment portal has shown good progress and continues to grow," Shobhana Bhartia, Chairperson and Editorial Director, HT Media and Hindustan Media Ventures, said.

"Our outlook for the coming quarter remains cautious, given overall economic sentiment and macroeconomic trends. Cost-control and falling commodity prices should help protect our margins," Bhartia said.

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