HT Media swings to profit in Q4 despite radio business drag

MUMBAI: Ink met the balance sheet with mixed results this quarter, as HT Media found brighter headlines in its core business even while parts of the portfolio remained under pressure. HT Media reported a consolidated profit after tax of Rs 21.54 crore from continuing operations for the quarter ended 31 March 2026, reversing a loss of Rs 6.33 crore recorded in the preceding quarter. The company had reported a profit of Rs 77.57 crore in the corresponding quarter last year.

Revenue from operations for the January-March quarter rose 3.5 per cent year-on-year to Rs 511.04 crore from Rs 493.93 crore. Total income increased to Rs 557.56 crore, compared with Rs 568.10 crore a year earlier.

The media company, which publishes newspapers including Hindustan Times and Mint, reported profit before exceptional items and tax of Rs 93.28 crore in the fourth quarter, up sharply from Rs 32.92 crore in the December quarter and Rs 84.87 crore a year ago.

However, exceptional losses of Rs 74.39 crore during the quarter weighed on overall profitability, bringing profit before tax down to Rs 18.89 crore from Rs 79.06 crore in the year-ago period.

For the full financial year ended 31 March 2026, revenue from operations climbed to Rs 1,803.31 crore, compared with Rs 1,745.84 crore in FY25. Profit after tax from continuing operations stood at Rs 38.62 crore, down from Rs 100 crore in the previous year, largely due to exceptional charges amounting to Rs 114.23 crore.

The company’s EBITDA from continuing operations improved to Rs 298.42 crore for FY26, up from Rs 275.49 crore a year earlier, reflecting tighter cost controls and operational efficiencies despite a challenging advertising environment.

The broader picture, however, remained clouded by losses from discontinued operations. HT Media reported a post-tax loss of Rs 87.69 crore from discontinued businesses during FY26, compared with a loss of Rs 85.80 crore in FY25. This resulted in a consolidated net loss of Rs 49.07 crore for the year, against a profit of Rs 14.20 crore in the previous financial year.

The company’s radio business also continued to face headwinds. Revenue from operations in the segment stood at Rs 287.54 crore during the quarter and Rs 1,031.67 crore for the full year. The business reported a loss after tax of Rs 39.83 crore in the March quarter and TRs 121.57 crore for FY26, reflecting persistent pressure on profitability.

Despite the drag from discontinued operations and radio, HT Media’s core publishing business showed signs of resilience. Annual revenue crossed the Rs 1,800 crore mark, while operating profit strengthened, suggesting the publisher is steadily navigating a media landscape increasingly shaped by digital consumption, evolving advertising patterns and portfolio restructuring.