HT Media announced 92% Y-o-Y growth in Net Profit for Q2 at Rs 31.41 Crores up from Rs. 16.28 Crores. Top line was slightly up by 4% at Rs. 348 Crores against Rs. 334 Crores recorded in corresponding quarter.
The operating margins has seen a major spike as the economic conditions are turning positive giving boost to publication margins. The company also undertook various cost saving measures in recent quarters which seem to have lifted the bottom line.
Publishing segment revenues were stagnant at Rs. 282 Crores circulation revenues although grew 28% to Rs. 47.9 Crores. Radio Segment contributed 10 Crores to the revenues with losses of 3 Crores incurred in this segment.
HT Media also expects lower newsprint cost to improve margins in future at same time expects upturn in economy to benefit its operations positively.
Other Highlights:
HT media has claimed that it has got positive responses for redesigned version of ‘Hindustan Times’. The revenues from Hindustan Time has grown by 23 % and has maintained EBITDA margins of 20%. Mint at the same time is gaining stronghold in Pink Paper segment.
Shine, recruitment portal owned by HT Media’s wholly owned subsidiary Firefly e-Ventures Limited has crossed 3 million registrations and seems to be gaining foothold in online recruitment space.
The company has also conveyed that it would continue to pump investments into internet and mobile marketing segment, with the objective of becoming the preferred one stop destination for advertisers.
