BENGALURU: Indian print, digital and radio media group HT Media reported 2 percent year-on-year (y-o-y) growth in consolidated revenue for the quarter ended 30 September 2019 (Q2 2020, quarter or period under review) as compared to the corresponding year ago quarter. The HT Media group revenue (includes HT Media Limited and another publicly listed subsidiary Hindustan Media Ventures Limited) increased by Rs 9 crore in Q2 2020 to Rs  580 crore from Rs 571 crore in Q2 2019.

HT Media Group consolidated operating margin (EBITDA) more than doubled (grew 139 percent) y-o-y by Rs 47 crore during the quarter under review to Rs 81 crore from Rs 34 crore in Q2 2019. Consolidated loss halved (declined 51 percent) y-o-y to Rs 22 crore in Q2 2020 from Rs 22 crore in Q2 2019.

Radio Business

The HT Media Group had acquired a 51 percent stake in Next Mediaworks (NMW) in the last quarter of 2019. The HT Media Group reported 27 percent y-o-y growth in radio revenue in Q2 2020 due to NMW – radio revenue increased by Rs 13 crore to Rs 59 crore in the period under review from Rs 47 crore in Q2 2019. However, the company says that radio revenue ex NMW declined 7 percent y-o-y in Q2 2020. Operating EBITDA of the Group’s Radio Business declined by Rs 3 crore or 22 percent  y-o-y in Q2 2020 to Rs 12 crore from Rs 16 crore in the corresponding quarter of the previous fiscal.

Some of the radio brands of the HT Media Group include Fever 104 FM, 94.3 Radio One International and 102.7 FM Radio Nasha.

Print Business

HT Media Group’s overall Print Business revenue declined by Rs 14 crore or by 3 percent y-o-y in Q2 2020 to Rs 438 crore from Rs 452 crore. Print Business operating EBITDA increased 516 percent or by Rs 40 crore y-o-y during the period under review to Rs 48 crore from Rs 8 crore.

HT Media Group’s overall Print ad revenue declined 6 percent or by Rs 21 crore y-o-y in Q2 2020 to Rs 342 crore from Rs 363 crore. Overall Print Business Circulation revenue reduced by Rs 5 crore or declined by 7 percent to Rs 66 crore in Q2 2020 from Rs 72 crore.

Print – English Ad revenue declined 6 percent y-o-y to Rs 203 crore in Q2 2020 from Rs 217 crore. Print -English Circulation revenue declined 8 percent to Rs 17 crore in Q2 2020 from Rs 18 crore.

Print – Hindi Ad revenue declined 6 percent y-o-y to Rs 139 crore in Q2 2020 from Rs 147 crore. Print Hindi Circulation revenue declined 7 percent y-o-y during the period under review to  Rs 50 crore in Q2 2020 from Rs 54 crore.

Company speak

HT Media and Hindustan Media Ventures chairperson and editorial director Shobhana Bhartia said, “Slowing economic growth has hit advertising spends in key categories, putting pressure on revenues across the media industry. As a result, our Print and Radio (on like to like basis) businesses saw revenues dip as compared to a year-ago. However, thanks to lower  commodity prices and a tight control on costs, we saw an improvement in our operating profit. On the digital front, Shine, our online recruitment portal has shown good progress and continues to grow. Our outlook for the coming quarter remains cautious, given overall economic sentiment and macroeconomic trends. Cost-control and falling commodity prices should help protect our margins.”