HT Media Q3 revenue flat at Rs 496.61 crore, net loss widens to Rs 23.35 crore

New Delhi: HT Media reported consolidated revenue from operations of Rs 496.61 crores for the quarter ended December 31, 2025, up 1.4% from Rs 489.80 crores a year earlier, as advertising revenues across print, radio and digital remained largely stable.

However, higher exceptional costs pushed the company into a net loss of Rs 23.35 crores, compared with a loss of Rs 5.99 crores in the same quarter last year, highlighting continued pressure on advertising-led media businesses despite steady top-line performance.

Total income for the quarter stood at Rs 532.27 crores, almost flat compared with Rs 530.44 crores in Q3FY25. Profitability was impacted by exceptional losses of Rs 40.35 crores, largely linked to labour code implementation and regulatory adjustments. As a result, loss before tax widened to Rs 27.02 crores, against a profit before tax of Rs 6.39 crores in the year-ago quarter.

From an advertiser’s perspective, the quarter showed contrasting trends across media formats.

The print publishing business, which continues to account for the bulk of HT Media’s advertising revenue, reported segment revenue of Rs 394.84 crores, up from Rs 386.80 crores a year ago. The marginal increase suggests stable advertiser participation, supported by national and local brand spends, even as print faces long-term structural challenges.

The radio and entertainment segment, which is closely linked to spot and local advertising, reported revenue of Rs 33.70 crores, significantly lower than Rs 51.13 crores in the corresponding quarter last year. The decline reflects ongoing softness in radio advertising, as marketers increasingly shift budgets towards digital platforms offering sharper targeting and performance measurement.

The digital segment continued to show momentum, with revenue rising to Rs 66.67 crores from Rs 51.45 crores in Q3FY25. The growth underlines increasing advertiser interest in digital news platforms, branded content, and integrated advertising solutions, making digital the fastest-growing part of the company’s advertising portfolio.

Despite the bottom-line loss, operating performance before exceptional items remained steady. EBITDA before exceptional items stood at Rs 50.70 crores, compared with Rs 46.40 crores in the year-ago quarter, supported by cost controls and stable advertising inflows across platforms.

For the full financial year ended March 31, 2025, HT Media reported revenue from operations of Rs 1,805.63 crores, marginally lower than Rs 1,812.06 crores in FY24. Total income for the year stood at Rs 2,024.88 crores, compared with Rs 2,034.81 crores a year earlier, reflecting a year marked by cautious advertiser sentiment, particularly in traditional media.

The company reported a profit before tax of Rs 15.44 crores for the year, compared with a loss before tax of Rs 39.34 crores in FY24. However, net profit attributable to shareholders declined to Rs 1.95 crores, from Rs 14.20 crores in the previous year, as exceptional and regulatory-related costs offset operating improvements.

On a yearly segment basis, print publishing generated Rs 1,393.00 crores, remaining the largest contributor to advertising revenue. The radio and entertainment segment delivered Rs 203.88 crores, reflecting continued pressure on audio advertising spends. The digital segment contributed Rs 211.87 crores, reinforcing its growing importance in the company’s long-term advertising and monetisation strategy.

HT Media ended the year with a net worth of Rs 1,662.27 crores and a debt-equity ratio of 0.28, indicating a relatively stable balance sheet. Operating margin for the year stood at -1.81%, while net profit margin was 0.10%, underlining the need for stronger advertising growth and higher digital monetisation to improve returns.

During the quarter, the board approved the appointment of Sameer Singh as Managing Director and Chief Executive Officer, effective March 1, 2026. The leadership change comes at a time when media companies are increasingly focused on digital-led advertising growth, deeper brand partnerships, and integrated offerings for advertisers and agencies navigating fragmented media consumption.