HT Media tumbles after poor Q1 results

HT Media slumped 4.49% to Rs 115 at 15:01 IST on BSE after consolidated net profit declined 31% to Rs 32.70 crore on 3% growth in total revenue to Rs 585.90 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 25 July 2014.

Meanwhile, the S&P BSE Sensex was down 187.65 points or 0.71% at 26,084.20.

On BSE, so far 61,000 shares were traded in the counter as against average daily volume of 82,973 shares in the past one quarter.

The stock hit a high of Rs 120.90 and a low of Rs 111.30 so far during the day. The stock had hit a 52-week high of Rs 131 on 7 July 2014. The stock had hit a 52-week low of Rs 69.50 on 21 February 2014.

The stock had outperformed the market over the past one month till 24 July 2014, surging 10.66% compared with the Sensex's 3.56% rise. The scrip had also outperformed the market in past one quarter, jumping 39.68% as against Sensex's 14.84% rise.

The small-cap company has equity capital of Rs 46.55 crore. Face value per share is Rs 2

HT Media's consolidated EBITDA declined 4% to Rs 101.40 crore in Q1 June 2014 over Q1 June 2013.

Commenting on the company's Q1 performance, Mrs. Shobhana Bhartia, Chairperson and Editorial Director, HT Media said, "Healthy growth in advertising yields and net realizations across all our dailies helped us weather a challenging quarter for print media. Our diversification strategy continues to work well; HT Mumbai is consolidating its position as a strong No 2. Hindustan has emerged as a strong growth engine for the company. Our digital businesses continue to gain traction and our radio business continues to outperform. Overall, we remain optimistic on the medium term outlook for HTML given that both economic and industrial growth has bottomed out. We believe there will be significant opportunities for the company as the economic environment improves."

HT Media said that increasing returns in new businesses like HT Mumbai, Radio and Hindi business to contribute towards revenue growth and improved profitability. The company said it is gaining traction in the digital business. The company said that its strong balance sheet is capable of supporting investments in growing businesses whilst exploring new opportunities.

HT Media is one of India's foremost media companies, and home to three leading newspapers in the country in the English, Hindi and Business news segments - 'Hindustan Times' (English daily), 'Hindustan' (Hindi daily, through a subsidiary) and 'Mint' (business paper). The company also has four FM radio stations - 'Fever 104 FM' in Delhi, Mumbai, Bengaluru and Kolkata. The company also operates a job portal in the internet space. HT Media also publishes two Hindi magazines Nandan and Kadambini through its subsidiary Hindustan Media Ventures.

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