HT Media Limited (HTMEDIA) Q3 25/26 earnings summary

Executive summary

• Achieved stable top-line performance and steady growth in overall profitability for Q3 FY25-26, with operational progress across core businesses and cost discipline.

• Print segment showed resilience, with growth in both annual and sequential terms, driven by strong advertising in English titles and steady circulation revenues.

• Digital business delivered strong YoY and sequential revenue growth, with improved margins, validating the digital-first strategy.

• Radio segment faced revenue and margin pressures due to a high base effect and challenging market conditions.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

Financial highlights

• Consolidated revenue was INR 532 crore (₹49,661 lakhs), flat YoY and up 7% sequentially; nine-month revenue was INR 1,36,026 lakhs.

• EBITDA reached INR 51 crore (10% margin), up 9% YoY.

• PAT before exceptional items stood at INR 17 crore (3% margin), turning positive from a loss of INR 3 crore in Q3 FY25.

• Net cash position remained robust at INR 945 crore, up 3% YoY.

• Consolidated net loss for the quarter was INR 2,370 lakhs, mainly due to non-recurring labour code impacts.

Outlook and guidance

• Focus remains on sustaining momentum by leveraging print mastheads, recalibrating radio, and scaling digital platforms.

• The group continues to monitor regulatory changes, especially regarding the new Labour Codes, and will adjust accounting as further clarifications are issued.

• Continued commitment to operational efficiency and trusted journalism.

• No specific forward-looking guidance or projections provided.