HT Media posts 10% growth in ad revenue, narrows quarterly loss to Rs 4 crore

New Delhi: HT Media Limited reported a steady performance in the second quarter of FY26, driven largely by a rise in advertising revenues across its key print and digital verticals. 

According to the stock exchange filings, the company saw a growth of 10% in the advertising revenue on-year, rising from Rs 252 crore in the second quarter previous year to Rs 278 crore in the same quarter of the current fiscal. On a sequential basis, this jump is marked at 9%, rising from Rs 255 crore in the previous quarter of the same fiscal. 

The ad revenue growth helped the company report a 10% year-on-year rise in consolidated advertising revenue in the second quarter of FY26, helping the company post an overall 4% growth in consolidated revenue to Rs 499 crore. 

Sequentially, revenue from operations rose 11% from Rs 451 crore in the previous quarter, while profit after tax (PAT) loss narrowed to Rs 4 crore from Rs 6 crore in the same period last year and Rs 11 crore in the preceding quarter. EBITDA for the quarter rose sharply to Rs 44 crore, up 33% year-on-year and more than threefold sequentially, with operating margins improving to 9% from 7% a year ago.

The company said the growth was primarily driven by a strong performance in its print advertising business, supported by gains in the digital segment. Total print revenue grew 7% on-year to Rs 358 crore, led by advertising revenue of Rs 278 crore, which rose 10% from a year earlier and 9% over the previous quarter. 

Circulation revenue stood at Rs 53 crore, declining 3% year-on-year but improving 4% sequentially, indicating a gradual recovery in print readership and distribution. Operating EBITDA for the print segment more than doubled to Rs 40 crore, a 106% increase over the same quarter last year, reflecting improved cost efficiency and higher yields.

Within print, the English business saw advertising revenue rise 8% year-on-year and 10% sequentially to Rs 154 crore, supported by an uptick in key commercial categories. Circulation revenue in English publications declined 15% year-on-year but was up 20% from the previous quarter at Rs 14 crore. 

The Hindi print business under Hindustan Media Ventures Limited (HMVL) reported a 13% growth in advertising revenue to Rs 124 crore, aided by higher government and retail ad spends. Circulation revenue in the Hindi segment remained stable at Rs 39 crore.

The digital business continued to register steady gains with revenue rising 10% year-on-year and 8% sequentially to Rs 61 crore, driven by the performance of key platforms such as OTTplay and other digital properties. However, operating losses widened during the quarter as segment EBITDA slipped to a negative Rs 30 crore from Rs 23 crore a year ago, in line with the company’s investment-led strategy for digital growth.

In contrast, the radio business remained under pressure, posting a revenue of Rs 32 crore, down 8% year-on-year but up 4% sequentially. 

Segment EBITDA remained negative at Rs 4 crore, though the company said margins had improved sequentially as it continued to focus on integrated formats and diversified offerings.

Chairperson and Editorial Director Shobhana Bhartia said the company delivered “another quarter of solid performance” with growth in both operating revenue and profitability on an annual as well as sequential basis. 

“Overall revenue for the print business grew both annually and sequentially. This growth, combined with our focus on costs, translated into a further expansion of operating margins,” she said. 

Bhartia added that the digital business continues to demonstrate consistent growth while the company sharpens its focus on expanding the reach and relevance of its core print portfolio and drives the radio business toward immersive audience experiences.