HT Media Limited (HTMEDIA) Q1 24/25 earnings summary

Executive summary

• Overall revenue declined 4% year-over-year to INR 427 crores, mainly due to reduced government advertising volumes impacted by national elections and the Model Code of Conduct, affecting print and circulation revenues.

• Cost management and operational efficiency initiatives helped mitigate the impact on profitability.

• Digital business saw significant revenue growth both year-over-year and sequentially, with losses narrowing due to ongoing investments in OTTplay.

• Radio segment posted marginal revenue growth year-over-year but remained at breakeven or marginal losses.

• Board approved and published unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, along with the limited review report from statutory auditors.

Financial highlights

• Consolidated total revenue for Q1FY25 was ₹427 crore (₹37,851 lakhs), down 4% year-over-year and 19% sequentially.

• EBITDA for Q1 FY25 was ₹7 crores (₹735 lakhs), margin of 2%, down 72% year-over-year.

• Profit before tax (PBT) at -INR 36 crores; consolidated net loss after tax stood at ₹2,759 lakhs for Q1 FY25.

• Net cash position remains strong at INR 858 crores at quarter-end.

• Basic and diluted loss per share for Q1 FY25 was ₹(1.10), compared to ₹(0.80) in Q1 FY24.

Outlook and guidance

• No specific revenue or earnings guidance issued; focus remains on improving profitability in core businesses and scaling new digital ventures with measured investments.

• Continued commitment to operational efficiency and cost management to navigate industry challenges.

• The company continues to pursue the merger of HT Mobile Solutions Limited with itself, with the matter listed for further consideration by NCLT on August 14, 2024.