New Delhi:HT Media Limited has announced its financial results for the third quarter and the nine months ended 31 December 2009.
Total revenues increases by 6% to Rs. 3,661 million in the third quarter from year ago; sharp growth of 30% in circulation revenue Lower input costs and cost rationalization initiatives drive profitability EBITDA margin increases to 21% at Rs. 764 million from 8% at Rs. 268 million Net income margin expands to 10% at Rs. 358 million from a loss of 4% at Rs. 128 million.
Commenting on the performance for Q3 FY2010, Mrs. Shobhana Bhartia,Chairperson and Editorial Director, HT Media, said:
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. Feedback has shown that the relaunch of HT has been well received, particularly amongst the younger readers who comprise a key target audience for us,”.
“Mint” continues to do well, it is now present across 6 locations and is the second largest business daily in the country. Our radio business continues to consolidate its position across markets. The vernacular segment remains a strong thrust area for the Company. As you know, in December 2009, in an endeavour to enhance focus and better identify opportunities in this segment, we demerged our Hindi business into a separate entity, namely, Hindustan Media Ventures Limited.Overall, we believe HT Media is well positioned to maintain its growth performance and create enhanced value,”Shobhana Bhartia said.
HT Delhi retains its No. 1 position in solus readership while witnessing a marginal decline in overall readership to 21.3 lacs o HT Mumbai is the only broadsheet to have grown amongst the youth (age group of 12-24) while witnessing a marginal decline in readership to 5.03 lacs.
‘Hindustan’ continues to be fastest growing hindi newspaper in UP while maintaining its leadership position in Bihar & Jharkhand with 75% & 50% readership share respectively o ‘Mint’ maintains its position as the No. 2 business daily in the country with 25% readership share in the markets it was covered o ‘Mint’ ranked as No. 1 media brand and ‘Hindustan Times’ ranked as No. 2 newspaper brand in the country by ‘Pitch Media BrandOmeter’ study .
Hindi business demerged into a separate subsidiary company;reiterating the Company’s belief in vernacular business
Hindi business shows robust growth; expansion continues with commissioning of new printing facility at Agra .Shine.com’ continues to gain traction; registrations cross 3.5 million users. ‘Metro Now’, loss making JV with BCCL, has been temporarily shut down.