Televisionpoint.com Correspondent | Mumbai HT Media has announced its financial results for the quarter and half year ended September 30, 2008. The revenues of the company have increased by 18 per cent to Rs 334.2 crore from Rs 282.8 crore during the same period last year.
The operating profit (EBIDTA) has reduced by 21 per cent at Rs 45 crore from Rs 57.1 crore. EBIDTA has lowered due to high news print prices, which have increased around 24 per cent over the previous year. PAT has decreased to Rs 16.3 crore from Rs 31.9 crore, while the EPS stood at Rs 0.70.
Shobhana Bhartia, chairperson and editorial director, HT Media, said, "I am encouraged by healthy operating performance despite a challenging macroeconomic environment. We have partially mitigated the impact of higher input costs through advance buying of newsprint and sourcing from different geographies."
"Our recent launches of Hindustan in Chandigarh and Dehradun have built strong momentum and are contributing exceptionally well. The launch of local English editions in Dehradun, Jhansi and Kanpur will also boost the HT & HH business. Our revenue growth has been healthy despite continuous investment towards Mint, Radio and Internet services." Bhartia says.
"We continue to be in the investment mode in Mint and once the paper gains operational maturity, should add considerably to both, top line and bottom-line growth. Our well established brand equity, growing national footprint, growing regional presence and diversified business portfolio will enable us to increase revenues and implement many new initiatives that hold promise for the future and drive growth." Bhartia said.
Hindustan Times continues to hold number one status in Delhi, and has expanded its presence in other geographies. In Q2 FY2009, Hindustan Times continued to hold leadership position by significantly increasing share of circulation vis-à-vis its closest competitor.
HT Media recently launched Hindustan Times in Dehradun, Kanpur and Jhansi. The company has been making significant investments in building brand salience as also boosting its capacity across various geographies, which would enable it to further strengthen the momentum, gained on readership and revenues.
The quarter saw strong revenue growth in Dehradun and Chandigarh due to its unique marketing strategy 'jodi packages', which was very well accepted by the trade, in turn boosting sales.
The company will inaugurate its printing facilities at Meerut and Allahabad in the near future. This will enable HT Media achieve operational efficiencies and implement efficient cost reduction. It is expected to enable the company to considerably expand its reach in North India. With this the company would have printing facilities in 21 locations including a printing facility at Greater Noida.
(It may be noted that the promoters of the website, Televisionpoint.com, own approx. 0.47 per cent stake in HT Media, as on October 20, 2008.)
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