Increased circulation and higher ad revenues boost HT Media's profits

Company Brief

New Delhi, January 21, 2010

HT Media Ltd., publishers of newspapers, 'Hindustan Times', 'Mint' and the Hindi regional daily 'Hindustan' has reported a profit in the Q3 ended December riding high on lower newsprint costs, increased circulation and higher ad revenues.

The group had reported a loss of Rs 12.8 crore for the same period last year. The net income for this year stands at Rs 35.8 crore with a 6% rise in consolidated revenue to Rs 366.1 crore from Rs 345.7 crore a year ago. Circulation revenues increased 30% to Rs 50.8 crore while advertising revenues increased 3% to Rs 285.5 crore.

Total expenditure fell 10% in the three months to Rs291.7 crore from Rs323.9 crore in the year-earlier period and the company's Ebitda margin, a key measure of operating profitability, expanded to 21% from 8%.

Shobhana Bhartia, Chairperson and Editorial director of HT Media says, "Over the last year, despite economic constraints, we have taken several initiatives to expand our presence, make our offerings more contemporary, augment our infrastructure as well as streamline our operations. All these have enabled us to considerably strengthen our business and our value proposition."

The company reported earnings of Rs 0.78 a share during the quarter, registering 2.36 times growth over previous year period. In the meantime, shares of the company gained Rs 1.9, or 1.14%, to trade at Rs 168.25.

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Arunima Lahiri

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