Print, circulation revenue saw measured decline, affecting profitability: Shobhana Bhartia

HT Media has reported an overall revenue decline impacting profitability for the first quarter ended June 30, 2024 to Rs 427 crore from Rs 445 crore in Q1 FY2024. However, the company continues to maintain a robust net cash position.

The Print segment operating revenue dipped for the quarter as both advertising and circulation saw decline. Print ad revenue stood at Rs 219 crore in Q1 FY2025, decline of 20% from Rs 244 crore reported in Q1 FY2024. Circulation revenue was down 9% - from Rs 60 crore in Q1 FY2024 to Rs 55 crore in Q1 FY2025.

On the other hand, operating profitability was near break-even, with benefit in newsprint cost offsetting impact of drop in revenue.

In English and Hindi publications, Government-led ad revenue saw decline in the quarter, with key commercial sectors seeing y-o-y growth. There was a drop in circulation revenue on the back of lower copies. In Hindi publications, circulation revenue dropped y-o-y and remained flat sequentially.

Commenting on the performance in Q1 FY2025, Shobhana Bhartia, Chairperson and Editorial Director, HT Media Ltd & Hindustan Media Ventures Ltd, 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.”

She further said, “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. 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.”