HT Media reported a 3.7% decrease in its operating revenue for the first quarter ended June 30, 2024, bringing in Rs 378.51 crore, down from Rs 393.42 crore in Q1 FY24.
The consolidated total revenue for the quarter was Rs 427.1 crore, a 4% decrease from Rs 445.17 crore in the same period last year. The EBITDA for Q1 FY25 was Rs 7 crore, reflecting an 89% decline compared to Rs 64 crore in Q4 FY24.
Meanwhile, the digital segment saw a significant increase, generating Rs 46.63 crore in Q1 FY25 compared to Rs 35.69 crore in Q1 FY24, marking a growth of approximately 30.7%.
In a regulatory filing, the company said that the digital revenue increased on annual as well as sequential basis owing to topline improvement in key businesses. Continuing loss on account of OTTplay, however, losses lower than the sequential quarter.
The radio broadcast and entertainment sector reported revenue of Rs 35.71 crore for the current quarter, up from Rs 34.56 crore in the same period last fiscal year. On the other hand, the revenue from printing and publishing newspapers and periodicals in Q1 FY25 was Rs 298.71 crore, down from Rs 323.55 crore in Q1 FY24, reflecting a decrease of approximately 7.7%.
The company’s consolidated net loss increased by 38.6%, rising to Rs 27.59 crore in Q1 FY24 compared to Rs 18.98 crore in the same period of the previous fiscal year.
Shobhana Bhartia, Chairperson and Editorial Director, HT Media and Hindustan Media Ventures, said, “Overall revenue saw a decline as compared to the same period last year as National elections and the enforcement of the model code of conduct impacted government advertising volumes in the quarter. But our focused efforts on cost management and operational efficiency helped mitigate the impact on profitability,”
“Print advertising and circulation revenue saw a measured decline, affecting profitability; Radio posted growth in revenue over a year ago, but reported marginal losses; and the Digital business saw considerable upside in revenue on a y-o-y as well as q-o-q basis and better sequential profitability, albeit with ongoing investments in OTTplay. The Company’s focus remains on improving profitability in core businesses by driving topline growth as well as on growing new digital businesses aided by measured investments in the medium term,” Bhartia said.
“At this juncture, our strong market presence across media platforms and robust liquidity position remain a source of strength and competitive advantage in the dynamic media landscape. Now more than ever, we remain committed to serving all our customers and stakeholders with integrity and transparency. Your continued support and trust are integral to our success. Our unwavering focus remains on providing credible and insightful news and engaging entertainment,” she added.
