HT Media revenue drops by 3.7% to Rs 378.51 crore in Q1 FY2025

New Delhi: HT Media, on Friday, reported a 3.7% decline in its revenue from operations to Rs 378.51 crore in the first quarter that ended on June 30, 2024, from  Rs 393.42 crore in Q1 FY24.

Consolidated total revenue during the quarter under review stood at Rs 427.1 crore, compared to Rs 445.17 crore in the same period of the corresponding year, declining by 4%.

Revenue from printing and publishing of newspapers and periodicals in Q1 FY25 stood at Rs 298.71 crore as compared to Rs 323.55 crore in Q1 FY24, the company said.

Moreover, the radio broadcast and entertainment vertical posted revenue of Rs 35.71 crore as against Rs 34.56 crore in the corresponding period of the previous fiscal, whereas the digital segment clocked revenue of Rs 46.63 crore in Q1, FY25 as compared to Rs 35.69 crore in Q1, FY24.

As per the filings accessed from BSE, the company’s consolidated net loss widened by 38.6% to Rs 27.59 crore from Rs 18.98 crore registered in Q1 FY24.

HT Media said its board has approved an investment of Rs 20 crore in Mosaic Media Ventures, a wholly-owned subsidiary, by subscribing to the equity shares of the latter.

The investment is being made to further grow its business of gathering and distributing news, analysis, and research for business, management, investors, and the general public. The transaction is expected to be completed within 12 months from the date of board approval.