HT Media total revenue at Rs 488 cr in Q3FY23

HT Media’s total revenue for the quarter that ended December 31, 2022, stood at Rs 488 crore, down by 2% on a y-o-y basis, against Rs 501 crore in the same quarter last year. The company in the financial statement said that total revenue was down on a y-o-y basis, primarily on account of a relatively muted macro/festive business environment in the quarter. 

The company has reported a net loss of Rs 23.78 crore for the quarter against a profit of Rs 51.23 crore recorded in the same quarter last year.

“Raw material costs remained at heightened levels during the quarter but will likely ease off in coming quarters. Against this backdrop, we continued to improve our business performance on a quarterly basis for the Print and Radio verticals. Overall, the Print segment saw sequential growth in both advertising and circulation revenues, but margins continued to be impacted by high newsprint prices. Radio also saw an improvement on a sequential basis backed by better traction in both the FCT as well as the non-FCT space. With inflation easing and stabilization of the overall business environment, we are hopeful of capitalizing on the growth in consumer and advertiser spending in the medium-term. We remain committed to delivering credible and trustworthy news and engaging entertainment to our ever-growing audience base.”

The advertising revenue for the print segment of the company saw a decline of 12% to Rs 282 crore against Rs 323 crore in Q3FY22. The company said ad revenue declined on a y-o-y basis led by volume and on sequential basis there is growth. Meanwhile, the company's circulation revenue grew by 18% to Rs 60 crore from Rs 50 crore in Q3FY22. According to the the circulation revenue improved on y-o-y and sequential basis led by increase in realisation per copy. Also, operating EBITDA loss is on account of higher newsprint prices.

Meanwhile, Print- English ad revenue declined by 9% to Rs 160 crore against Rs 176 crore. The company said that Retail, Auto and BFSI grew while Real Estate, FMCG and Education remained subdued. The circulation revenue improved on the back of better realisation per copy and higher copies. The company's circulation revenue grew 122% to Rs 15 crore from Rs 7 crore.

Even in Print, Hindi ad revenue was down by 16% to Rs 123 crore against Rs 148 crore in Q3FY22, whereas circulation revenue grew by 2%. The company said, “Auto, Healthcare and Durables grew while Retail, Education and FMCG remained subdued. Circulation revenue grew on y-o-y basis owing to better realisation per copy, but saw a sequential drop.”

On radio, the operating revenue grew 21% to Rs 42 crore against Rs 34 crore in Q3FY22. According to company statement, good growth in revenue on a y-o-y and sequential basis, led by improvement in rates. Also improvement in operating EBITDA and margins on y-o-y as well as sequential basis and consistently reporting operating profit over the last few quarters.

Meanwhile on digital, operating revenue declined by 23% to Rs 28 crore. The company said digital revenue declined for the quarter, resulting in EBITDA loss.