HT Media's total revenue for the quarter ended 30th June has increased 53% to Rs 432 crore against Rs 281 crore in the same quarter last year. The company's operating loss narrowed by 59% to Rs 18 crore from Rs 43 crore. Net loss came down by 45% to Rs 42 crore compared to Rs 76 crore.
The ad revenue from the print media segment rose 82% to Rs 240 crore led by an uptick in volume and improvement in yields. Circulation revenue from the segment was up 20% to Rs 60 crore due to an increase in print orders and realisation per copy for both English & Hindi
Operating revenue jumped 72% to Rs 348 crore. The company posted an operating profit of Rs 2 crore from the segment against an operating loss of Rs 49 crore despite higher newsprint prices.
"The first quarter of FY 2022-23 began on a positive note with a strong performance in the previous fiscal year, with overall business performance and the larger economic and business environment seeing considerable improvement, especially in the latter half of the fiscal. But it also began amidst indications of headwinds in terms of escalating material input costs owing to geopolitical tensions and protracted global conflicts," said HT Media & Hindustan Media Ventures Chairperson and Editorial Director Shobhana Bhartia.
The company's operating revenue from the English print segment comprising Hindustan Times and Mint increased 84% to Rs 127 crore due to a strong jump in volume. On a y-o-y basis, the company noted that categories such as Real Estate, Retail, Auto, Education, and FMCG grew while categories like e-commerce remained subdued.
HT and Mint's circulation revenue rose 73% to Rs 12 crore on the back of build back of copies and better realisation per copy.
Revenue from the Print Hindi segment comprising Hindustan was up 80% to Rs 113 crore while circulation revenue grew 11% to Rs 48 crore. The company noted that the ad revenue improved on a y-o-y basis led by both volume and yield thanks to categories such as Education, Retail, FMCG, Health and Fitness, Auto, and Real Estate. Circulation revenue, it added, grew due to better realisation per copy and higher copies in circulation.
The radio segment saw a strong recovery with 176% growth in operating revenue at Rs 33 crore thanks to growth in rate and volume. The company reported an operating profit of Rs 2 crore against a loss of Rs 16 crore. This was the third consecutive quarter of operating profit for the company.
Digital segment revenue jumped 33% to Rs 39 crore on an operating profit of Rs 1 crore. The company noted that the growth in digital business continued while operating profit was maintained at a break-even level.
"Our Print business saw significant pricing pressure as material prices continued to remain at elevated levels even as a rise in general inflation impacted the overall cost of doing business. Advertising revenue across Print & Radio and circulation revenues remained healthy. In the near team, we expect market sentiment and growth to remain a bit subdued, but are hopeful of a resurgence in the mid to long term. Despite external macro headwinds, we remain committed to our journalism and to serving all our customers and stakeholders," Bhartia added.