HT Media Limited (HTMEDIA) Q4 18/19 earnings summary

Executive summary

• FY19 revenue from continuing operations was ₹219,387 lakh, down from ₹229,937 lakh; the period ended with a consolidated net loss of ₹4,540 lakh.

• Print faced weaker advertising, higher newsprint costs and currency pressure; Radio grew, while the Entertainment & Digital Innovation business was demerged to Digicontent.

• FY20 priorities included cost reduction, deeper reader and advertiser engagement, Radio growth and scaling newer digital formats and businesses.

Financial highlights

• Consolidated revenue from operations was ₹219,387 lakh versus ₹229,937 lakh; total income was ₹243,552 lakh versus ₹258,062 lakh.

• Consolidated EBITDA was ₹21,996 lakh versus ₹64,592 lakh; loss before tax was ₹3,610 lakh versus profit before tax of ₹44,627 lakh.

• Consolidated net loss was ₹4,540 lakh versus net profit of ₹30,717 lakh; basic and diluted EPS were both -₹1.95 versus ₹13.20.

• Standalone revenue from operations was ₹130,173 lakh versus ₹138,546 lakh; standalone net loss was ₹13,894 lakh versus profit of ₹21,374 lakh.

• Standalone exceptional loss of ₹11,211 lakh included ₹7,911 lakh provision for investment diminution and ₹3,300 lakh litigation expense.

Outlook and guidance

• India GDP growth was forecast at 7.3% for FY20; Indian Media & Entertainment was projected to reach ₹2.35 trillion by 2021 at 12% CAGR.

• FY20 print tailwinds were expected from softer newsprint prices, higher government advertising rates and improved corporate earnings and ad spending.

• Priorities included process re-engineering, manpower rationalisation, technology-led supply-chain savings, hyperlocal print editions, RadioOne integration, podcasts, video and tech-led media solutions.