HT Media Limited has announced its financial results for the second quarter and half year ended 30 September 2009. Total revenues grew 4% to Rs 3,481 million in Q2 of FY2010 from Rs 3,342 million in the year-earlier period .EBITDA margin expand to 20% in Q2 of FY2010 from 13% in Q2 of FY2009 PAT margin increases to 9% in Q2 of FY2010 from 5% in Q2 of FY2009.
Commenting on the performance for Q2 FY2010, Shobhana Bhartia, Chairperson and Editorial Director, HT Media, said: “I am happy to report a strong performance on the back of encouraging traction from our new initiatives and a continued emphasis on cost optimization. We are excited with the positive response to the redesigned version of ‘Hindustan
Times’ across markets”.
Revenues from ‘Hindustan’ grew by 23% to Rs. 1,026 million this quarter with EBITDA of Rs. 208 million representing EBITDA margin of 20%. In order to further strengthen its reach in the key towns of western UP, namely Bareilly, Pilibhit, Shahjahanpur, Lakhimpur and Badaun districts, HT Media has commissioned new printing facilities at Bareilly in October 2009. The company intends to complete its expansion in UP by launching new printing facilities at one more key location in the near future and also strengthen its existing printing infrastructure at Patna and Agra. This will enable HT Media to achieve operational efficiencies, strengthen its reach and build a strong leadership position across the Indo Gangetic belt, i.e. the states of Bihar, Jharkhand, UP, Uttarakhand and Delhi.
“This is our effort to remain in sync with the changing demographic profile and growing younger age group. We continue to expand our presence in North India through the commissioning of printing facilities at Bareilly for ‘Hindustan’. With this, we are close to completing our presence across the Uttar Pradesh & Uttarakhand region. The growth in the brand salience of ‘Mint’ is most heartening to watch. Our radio business is close to attaining breakeven and has stabilized as one of the top three channels of choice in Delhi & Bengaluru. The improving macro environment, leading to improved advertising markets should see us continue to deliver robust performance,” Shobhana Bhartia added.
‘Hindustan Times’ relaunch gets a positive response .The company has received positive feedback across markets to the relaunch of ‘Hindustan Times’ in July 2009. The relaunch was followed by 360 degree marketing campaigns in line with the overall strategy of staying focused on the younger generation and the emphasis on keeping up to date with changing news consumption patterns.
Mint has established itself as India’s second largest business daily and has completed its national footprint. Revenues grew strongly during the quarter while Mint also received two gold awards for best print quality and for best special coverage report at WAN-IFRA’s 8th Asia Media Awards. These awards are a reflection of the Company’s determination to bring out an offering that is clearly differentiated from the competition.
Radio stabilized as one of top 3 radio stations in Delhi & Bengaluru While maintaining its position as one of the top three radio stations in Delhi & Bengaluru, HTML’s radio business continued to gain traction and improve inventory utilization, leading to an increase in advertising revenues. Also, as a reflection of its growing popularity, Fever has become the official and exclusive radio partner for GMR Sports-Delhi Daredevils in the Champions T20 League.
‘Shine.com’ registration crosses 3 million candidates The number of users registered on ‘Shine.com’, the job portal launched in June 2008 through a wholly owned subsidiary Firefly e-Ventures Limited, has crossed 3 million. This is a reflection of the confidence shown in the site’s unique patented matching technology, world-class design, salary benchmarking utility and anonymity protection tools.