New Delhi: HT Media, the publishing house behind prominent newspapers like Hindustan Times and Mint, has announced a significant drop in its total revenue for the first quarter of the fiscal year 2025 (Q1 FY25). The company’s financial performance was impacted by a decline in both advertising and circulation revenue.
The company reported a total revenue of Rs 427 crore for the April-June 2024 quarter, marking a 19% decrease compared to the previous quarter (Q4 FY24). This downturn has adversely affected the company’s profitability, with EBITDA plummeting by a substantial 89% to Rs 7 crore.
Advertising Revenue Takes a Hit
A major contributor to HT Media’s financial woes was the decline in advertising revenue. The publishing house reported ad revenue of Rs 219 crore for Q1 FY25, a steep 25% drop from the preceding quarter. While the English publications saw a 25% decline in ad revenue compared to Q4 FY24, the Hindi publications experienced an even sharper 24% decline.
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Circulation Revenue Also Under Pressure
Circulation revenue, another key income stream for HT Media, also faced challenges. The company reported circulation revenue of Rs 55 crore for Q1 FY25, a slight decrease from Rs 56 crore in Q4 FY24 and Rs 60 crore in the same period last year.
Digital Revenue Shows Growth Amidst Overall Challenges
Amidst the overall financial downturn, HT Media’s digital revenue displayed growth on both a sequential and annual basis. The company reported digital operating revenue of Rs 47 crore, a 31% increase compared to Q1 FY24. However, the continuing losses from the OTT Play platform partially offset these gains.
Impact on English and Hindi Publications
HT Media’s English publications were affected by a decline in government-led ad revenue, although key commercial sectors showed year-on-year growth. The ad revenue for English publications stood at Rs 117 crore, while circulation revenue was at Rs 15 crore.
The Hindi publications faced a more challenging scenario, with ad revenue dropping by 24% compared to Q4 FY24.
Radio Segment Breakeven
The company’s radio segment managed to achieve a break-even operating EBITDA for the quarter, with operating revenue standing at Rs 36 crore.
HT Media’s financial performance in Q1 FY25 highlights the ongoing challenges faced by the traditional media industry, with the shift towards digital platforms accelerating. The company will need to implement strategic measures to navigate these headwinds and drive future growth.
