HT Media has reported a 28% increase in its Q3FY22 revenues. Total consolidated revenue stands at Rs 501 crore, as compared to Rs Rs 392 crore in the corresponding period of the previous year.
Consolidated EBITDA stood at Rs 107 crore, up 83% YoY from Rs 59 crore. The EBITDA margin stood at 21%.
PAT stood at Rs 51 crore, increasing by 441% over the previous years’ Rs 9 crore and it was also the highest recorded PAT of the last 14 quarters.
Print ad revenue showed a YoY growth of 37%, going from Rs 236 crore in Q3FY21 to Rs 323 crore in Q3FY22.
Digital Revenue stood at Rs 36 crore, increasing by 9% over the previous quarter and 42% YoY.
HT Media’s Radio business, which had an operating loss until last quarter, recovered in Q3FY22 and the business recorded an operating EBITDA of Rs 5 crore for the quarter, with a 13% margin.
Shobhana Bhartia, Chairperson and Editorial Director, HT Media Ltd & Hindustan Media Ventures Ltd, said, “The third quarter of this financial year saw a healthy performance in the media sector with an increase in advertising spends, especially during this festive season which was much stronger than the previous year’s. The operating environment continued to show improvement.”
She added, “The impact of the revival of economic activity and a turnaround in advertiser sentiment is reflected in our business performance. Print (both English & Hindi publications), Radio and Digital have all recorded revenue growth both on an annual as well as a sequential basis. In our Print business, revenue growth has come from both robust advertising growth and better traction in circulation.”
Speaking on the impact of the third wave, she said, “The ongoing third wave of the coronavirus pandemic has reintroduced an element of uncertainty as different regions are imposing calibrated restrictions to contain the spread. We continue to watch the situation closely and while there might be an impact on business, our expectation is that it will be limited”