HT Media Limited (HTMEDIA) Q4 12/13 earnings summary

Executive summary

• FY13 consolidated revenue rose 3% to ₹2,142.22 crore; EBITDA increased 4% to ₹376.39 crore and PAT rose 1% to ₹167.65 crore.

• Growth came amid subdued advertising and a weak economy; digital, radio and circulation revenues advanced, while cost controls supported profitability.

• Print, radio, digital and education expansion continued; leadership cited these newer businesses as potential sources of more stable, diversified growth.

Financial highlights

• Consolidated revenue ₹2,14,221.77 lakh, up 3% YoY; EBITDA ₹37,639.19 lakh, up 4%; PAT ₹16,765.49 lakh, up 1%.

• Consolidated PBT ₹24,035.49 lakh vs ₹23,409.42 lakh; EPS ₹7.13 vs ₹7.04.

• Print ad revenue ₹1,52,925 lakh, down 0.4%; circulation revenue ₹22,265 lakh, up 13%; digital revenue ₹5,377 lakh, up 23%.

• Other income rose to ₹9,383 lakh from ₹7,502 lakh, mainly from treasury operations; personnel costs increased 10% with expansion.

• Standalone results included a ₹15,940 lakh exceptional impairment of investments; standalone PAT was ₹2,415 lakh versus ₹15,982 lakh in FY12.

Outlook and guidance

• FY14 outlook called for continued growth in HT Mumbai, Hindustan in Uttar Pradesh, radio, education and digital, alongside cost optimization.

• Greater Noida capacity expansion was targeted for completion in Q2 FY14, adding pagination and colour capability and aiming to improve efficiency and reduce operating costs.

• MintAsia launched in Singapore in April 2013; two higher-education centres with Apollo Global were planned for around August 2013.

• Studymate launched CBSE + JEE programmes for FY14; Shine.com and HTCampus were expected to extend their mobile reach.