HT Media dwindles on declining bottomline

HT Media declared its Q2FY17 results on Wednesday. The company’s revenue increased 5.2 per cent to Rs 680 crore in Q2FY17 as compared to the corresponding period in previous financial year. Its advertising revenue declined 2 per cent; circulation revenue grew 2.4 per cent in Q2FY17 on yearly basis.

HT Media’s EBITDA rose 15.1 per cent to Rs 129 crore in Q2FY17 as compared to the corresponding period in previous fiscal. The company’s EBITDA margin increased 160 basis points to 18.9 per cent in Q2FY17 on yearly basis. However, its PAT reduced 0.8 per cent to Rs 51.2 crore in Q2FY17 as compared to the corresponding period in previous financial year. HT Media has net cash of Rs 857.6 crore in Q2FY17.

HT Media’s Radio business has increased 23.1 per cent to Rs 36.1 crore in Q2FY17 on yearly basis driven by new radio station launches. The company’s Radio EBITDA was at Rs 6.8 crore, with margin at 18.8 per cent in Q2FY17.

HT Media’s near term aim is to regain revenue growth in print business and drive revenue and profitability of newly launched radio stations. It also wants to improve its digital footprint by executing digital strategy and aims to grow revenue in this space.

The share price of HT Media declined 6.64 per cent on bourses after declaration of results and is trading at Rs 86.5 on intraday basis.