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Q3-2015: HT Media Radio segment reports 42.2% higher operating result

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BENGALURU: HT Media Limited’s (HT Media) radio segment reported a 42.2 per cent q-o-q growth in operating result for Q3-2015 at Rs 9.44 crore versus the Q2-2015 operating profit of Rs 6.64 crore and was 21.2 per cent more than the Rs 7.79 crore in the corresponding quarter of 2014. The segment’s 9M-2015 operating result at Rs 20.65 crore was 27.9 per cent more than the Rs 16.15 crore in 9M-2014.

Note: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The figures mentioned in this report are consolidated figures unless stated otherwise.

HT Media’s radio segment reported revenue of Rs 25.81 crore, six per cent more than the Rs 24.35 crore in Q2-2014 but 3.2 per cent lower than the Rs 26.67 crore in Q3-2014. The company operates four radio stations in the country under the brand Fever 104 FM.

Let us look at the other Q3-2015 and 9M-2015 figures reported by HT Media:

HT Media reported eight per cent higher total income from operations (TIO) at Rs 605.50 crore as compared to the Rs 560.88 crore in Q2-2015 and 4.2 per cent more than the Rs 533.53 crore in Q3-2014. For 9M-2015, HT Media reported TIO of Rs 1712.79 crore, which was 3.4 per cent more than the Rs 1656.86 crore in 9M-2014.

The company’s PAT for Q3-2015 at Rs 63.97 crore (10.6 per cent of TIO) was 45.8 per cent more than the Q2-2015 PAT of Rs 43.89 crore (7.8 per cent of TIO) but 4.6 per cent lower than the Rs 67.02 crore (11.5 per cent of TIO) in Q3-2014. For 9M-2015, HT Media reported PAT of Rs 140.53 crore (8.2 per cent of TIO), which was 18.6 per cent lower than the Rs 172.69 crore (10.4 per cent of TIO) in 9M-2014.

Three segments contribute to HT Media’s revenue – (1) Printing and publishing of newspapers and periodicals (Publishing), (2) Radio and (3) Digital.

HT Media’s publishing segment reported revenue of Rs 553.2 crore (91.4 per cent of TIO) for the current quarter, which was eight per cent more than the Rs 510.75 crore (91.1 per cent of TIO) in Q2-2015, and 3.7 per cent more than the Rs 533.53 crore (91.8 per cent of TIO) in Q3-2014. In 9M-2015, the publishing segment reported revenue of Rs 1565.49 crore (91.4 per cent of TIO), which was 2.1 per cent more than the Rs 1533.96 crore (92.6 per cent of TIO) in 9M-2014.

HT Media’s publishing segment reported an increase in operating profit of 17.1 per cent to Rs 78.49 crore in Q3-2015 as compared to the Rs 67.04 in Q2-2015, but was 8.7 per cent lower than the Rs 85.93 crore in the corresponding year ago quarter. The segment reported a 7.4 per cent fall in operating profit to Rs 210.08 crore in 9M-2015 versus Rs 226.97 crore in 9M-2014.

The company’s digital segment reported 6.9 per cent higher revenue at Rs 26.65 crore in Q3-2015 as compared to the Rs 24.93 crore in Q2-2015 and 36.4 per cent more than the Rs 19.54 crore in Q3-2014. For 9M-2015, HT Media’s digital segment reported a 38.4 per cent growth in revenue to Rs 74.13 crore versus the Rs 54.40 crore in 9M-2014. This segment has been regularly reporting operating loss (loss). Its loss in Q3-2015 was Rs 14.42 crore; Q2-2015 was Rs 14.7 crore; for Q3-2014 loss was Rs 7.6 crore. For 9M-2015, HT Media’s digital segment reported loss of Rs 41.31 crore versus Rs 34.73 crore in 9M-2014.

The company, in its investor presentation, says that advertising revenue in the current quarter grew 12 per cent to Rs 496.7 crore from Rs 444.4 crore in the immediate trailing quarter and grew four per cent as compared to the Rs 478.3 crore in the corresponding year ago quarter.

Circulation revenues in Q3-2015 at Rs 73.4 crore grew two per cent q-o-q from Rs 71.7 crore in Q2-2015 and grew 10 per cent from Rs 66.5 crore in Q3-2014.

Other revenue increased one per cent in Q3-2015 to Rs 79.8 crore from Rs 78.7 crore in Q2-2015 and was 10 per cent more than the Rs 72.3 crore in Q3-2014 further informs HT Media.

HT Media chairperson and editorial director Shobhana Bhartia said, “We are happy to report revenue growth across all our core businesses on the back of higher advertising in the festive season. We increased our circulation in the Hindi belt, strengthening our position in Uttar Pradesh and Bihar; Mumbai is growing steadily; and we remain the most read English daily in Delhi and the national capital region. Our digital businesses continue to show traction and radio remains highly profitable.”

“Raw material costs show a downward trend and we will benefit from the same in coming quarters. The announcement of Phase III expansion in FM Radio is a positive development and we believe we will be able to add to our portfolio of stations. We expect to close the year on a strong note and carry the momentum into the next year. The company is well positioned to seize any opportunity that comes its way,” she added.

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