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Q2-2016: HT Media revenue up 7.3%, PAT down; radio revenue up 20.5%

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BENGALURU: HT Media Limited (HT Media) reported 7.3 per cent growth in total income from operations (TIO) for the quarter ended 30 September, 2015 (Q2-2015, current quarter) at Rs 601.55 crore as compared to the Rs 560.88 crore in Q2-2015. The current quarter?s TIO was 2.4 per cent more than the Rs 587.18 crore in Q1-2016.

HT Media?s radio segment (Fever 104 FM) reported a 20.5 per cent increase in operating revenue to Rs 29.34 crore (4.9 per cent of TIO) as compared to the Rs 24.34 crore (4.3 per cent of TIO) in Q2-2015 and 19.7 per cent more than the Rs 24.52 crore (4.2 per cent of TIO) in Q1-2016.

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

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

The company?s profit after tax (PAT) in Q2-2016 fell 17 per cent to Rs 36.42 crore (6.1 per cent margin) from Rs 43.89 crore (7.8 per cent margin) in the corresponding year ago quarter but was 46 per cent more than the Rs 24.95 crore (4.2 per cent of TIO) in Q1-2016.

Advertising and Circulation revenue

HT Media?s advertising revenue grew by 6.7 per cent in Q2-2016 to Rs 475.2 crore (78.8 per cent of TIO) from Rs 444.4 crore (79.2 per cent of IO) in Q2-2015 and grew 1.4 per cent from Rs 467.5 crore (79.6 per cent of TIO) in Q1-2016.

Circulation revenue in the current quarter at Rs 75.4 crore (12.5 per cent of TIO) grew 5.2 per cent as compared to Rs 71.7 crore (16.1 per cent of TIO) in Q2-2015 and increased 3.3 per cent from Rs 72.9 crore (12.4 per cent of TIO) in the immediate trailing quarter.

Segment-wise performance

Three segments contribute to HT Media?s numbers - (1) Printing and publishing of newspapers and periodicals (Publishing) (2) Radio and (3) Digital.

HT Media?s publishing segment reported 5.4 per cent growth in revenue to Rs 538.08 crore (89.4 per cent of TIO) from Rs 510.75 crore (91.1 per cent of TIO) in the corresponding year ago quarter and grew 1.1 per cent from Rs 532.44 crore (90.7 per cent of TIO) in Q1-2016.

The publishing segment reported operating profit of Rs 65.36 crore, which was 2.5 per cent lower than the Rs 67.04 crore in Q2-2015 and 17.6 per cent lower than the Rs 79.29 crore in Q1-2016.

HT Media has four FM radio stations ? Fever 104 in Delhi, Mumbai, Bengaluru and Kolkata. Radio segment revenue numbers have been mentioned above. HT Media?s radio segment reported operating profit of Rs 3.84 crore, which was 42.2 per cent lower than the Rs 6.64 crore in Q2-2015 and 42.5 per cent lower than the Rs 6.68 crore in Q1-2016.

The company?s digital segment reported 36 per cent growth in revenue to Rs 33.91 crore (11 per cent of TIO), which was 36 per cent more than the Rs 24.93 crore (4.4 per cent of TIO) in the corresponding year ago quarter and 11 per cent more than the Rs 30.56 crore (5.2 per cent of TIO) in Q1-2016.

Digital segment reported higher loss of Rs 18.35 crore in Q2-2016 as compared to the Rs 14.70 crore in Q2-2015, but lower than the loss of Rs 23.88 crore in Q1-2016.

The company reported unallocated losses of Rs 15.40 crore in Q2-2016; loss of Rs 11.90 crore in Q2-2016 and loss of Rs 20.01 crore in Q1-2016.

Company Speak

HT Media chairperson and editorial director Shobana Bhartia said, "Our performance this quarter has been satisfactory despite subdued economic activity and tepid markets. Our English publications saw a growth in revenue even after factoring in a base effect, and this was driven by growth in both HT Mumbai and MintHindustan continues to demonstrate remarkable resilience and saw high growth rates. We successfully acquired the stations of our choice in the Phase-III FM auctions. The digital business grew in terms of revenue and saw a fall in losses. We are excited by the opportunities on offer, the prospects of our various businesses and are confident of executing on our plans in the coming months."

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