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HT Media Q2FY2007 revenues up 30% at Rs 2,575 mn,
PAT up 236% at Rs 269 mn, Operating profit (EBITDA)) up 109% at
Rs 553 mn, EPS (not annualized) at Rs 5.74
Robust outlook for FY2007 based on::
o Recent initiatives paying-- off
o Continued buoyancy in ad revenues
o Favorable sector trends
New Delhi, 19th October, 2006
HT Media Limited today announced its financial results for the
quarter and
half year ended September 30, 2006. The Company has reported a 30%
increase in revenues for the quarter under review to Rs. 2575 million,
compared to the corresponding quarter last year, driven primarily
by contributions from the Mumbai operations & Hindi business.
HT Media had launched its Mumbai operations in July 2005, swiftly
gaining a strong foothold in the country’s largest media market,
company has also launched three new Hindi editions since March this
year.
Enhanced operating efficiencies and robust ad revenue growth resulted
in a
109% improvement in operating profits (EBITDA) for the quarter,
which
increased to Rs. 553 million. The operating (EBITDA) margin for
the quarter improved to 21% from 13% last year. Pre-tax profits
recorded a substantial increase from Rs. 130 million last year to
Rs. 419 million in Q2FY2007. PAT for the quarter under review, when
compared with corresponding period last year, more than trebled
to Rs. 269 million from Rs. 80 million, translating into an EPS
(non-annualized) of Rs. 5.74.
Commentiing on the performance for Q2FY2007,, Mrs.. Shobhana Bhartiia,,
Viice Chaiirperson and Ediitoriiall Diirector,, HT Mediia,, saiid::
“Our performance during the quarter continues to be encouraging.
Our Mumbai edition continues to perform well and we are now one
of the country’s largest players in the Hindi segment. During
the quarter we entered into an agreement with The Wall Street Journal,
which will enable us create a world-class newspaper in India and
emphasize our desire to offer a business newspaper to Indian readers
at a time when India has become a global player in numerous industries.
We also entered into a joint venture with the Times of India Group
that will help us establish a new and vibrant newspaper in Delhi.
Going forward, we will continue to maintain a robust revenue growth
and expect our new ventures to contribute significantly to our revenues.”
Q2FY2007 performance overview
((Alll comparisons with Q2FY2006))
• Revenues increased by 30% to Rs. 2575 million from Rs.1,987
million
• Operating profit (EBIDTA) higher by 109% at Rs. 553 million
from Rs. 265 million
• PAT increased significantly to Rs. 269 million from Rs. 80
million
• EPS (non-annualized) stood at Rs. 5.74
H1FY2007 performance overview
((Alll comparisons with H1FY2006))
• Revenues increased by 31% to Rs. 5,054 million from Rs.3,845
million
• Operating profit (EBIDTA) higher by 108% at Rs. 1,159 million
from Rs. 557 million
• PAT increased significantly to Rs. 575 million from Rs.178
million
• EPS (non-annualized) stood at Rs. 12.28
Key operatiing hiighlliights
• The Company entered into an exclusive agreement Dow Jones
& Co. under which the Company’s soon-to-be-launched business
newspaper and its website will publish content from The Wall Street
Journal, WSJ.com and Marketwatch.com.
• HT Media signed a memorandum of understanding with the Times
of India Group during October 2006 to establish a 50:50 joint venture.
The joint venture will be a separate company and publish a new and
innovative
newspaper in Delhi.
• The Mumbai edition continues to grow.
• The Company continues to maintain its leadership position
in Delhi,
Chandigarh, Bihar and Jharkhand.
• The company also launched two new editions in Uttar Pradesh
in the current quarter (Agra & Kanpur).
About HT Media Limited
HT Media Limited is one of India’s foremost media companies,
and home to two leading newspapers in the country in English and
Hindi languages - Hindustan Times (the flagship English daily) and
Hindustan (Hindi daily). Hindustan Times was started in 1924 and
it has an 80-year history as one of India’s leading newspapers.
As part of its strategy to expand its national presence, the company
launched Hindustan Times in the Mumbai market on July 14, 2005.
HT Media Ltd. has a significant online presence with HindustanTimes.com
and also publishes two Hindi magazines Nandan and Kadambini. The
company has 15 printing facilities across the nation, with a total
installed capacity of approximately 1.5 million copies per hour.
For further information please contact:
Naila 98189 78672/ njung@perfectrelations.com
Chirag 98109 76147/ chiragr@perfectrelations.com
Perfect Relations
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