News Broadcasting
HT Media reports sluggish growth; Radio revenues impacted by soft ad environment
BENGALURU: Indian print, digital and radio media group HT Media reported 2 percent year-on-year (y-o-y) growth in consolidated revenue for the quarter ended 30 September 2019 (Q2 2020, quarter or period under review) as compared to the corresponding year ago quarter. The HT Media group revenue (includes HT Media Limited and another publicly listed subsidiary Hindustan Media Ventures Limited) increased by Rs 9 crore in Q2 2020 to Rs 580 crore from Rs 571 crore in Q2 2019.
HT Media Group consolidated operating margin (EBITDA) more than doubled (grew 139 percent) y-o-y by Rs 47 crore during the quarter under review to Rs 81 crore from Rs 34 crore in Q2 2019. Consolidated loss halved (declined 51 percent) y-o-y to Rs 22 crore in Q2 2020 from Rs 22 crore in Q2 2019.
Radio Business
The HT Media Group had acquired a 51 percent stake in Next Mediaworks (NMW) in the last quarter of 2019. The HT Media Group reported 27 percent y-o-y growth in radio revenue in Q2 2020 due to NMW – radio revenue increased by Rs 13 crore to Rs 59 crore in the period under review from Rs 47 crore in Q2 2019. However, the company says that radio revenue ex NMW declined 7 percent y-o-y in Q2 2020. Operating EBITDA of the Group’s Radio Business declined by Rs 3 crore or 22 percent y-o-y in Q2 2020 to Rs 12 crore from Rs 16 crore in the corresponding quarter of the previous fiscal.
Some of the radio brands of the HT Media Group include Fever 104 FM, 94.3 Radio One International and 102.7 FM Radio Nasha.
Print Business
HT Media Group’s overall Print Business revenue declined by Rs 14 crore or by 3 percent y-o-y in Q2 2020 to Rs 438 crore from Rs 452 crore. Print Business operating EBITDA increased 516 percent or by Rs 40 crore y-o-y during the period under review to Rs 48 crore from Rs 8 crore.
HT Media Group’s overall Print ad revenue declined 6 percent or by Rs 21 crore y-o-y in Q2 2020 to Rs 342 crore from Rs 363 crore. Overall Print Business Circulation revenue reduced by Rs 5 crore or declined by 7 percent to Rs 66 crore in Q2 2020 from Rs 72 crore.
Print – English Ad revenue declined 6 percent y-o-y to Rs 203 crore in Q2 2020 from Rs 217 crore. Print -English Circulation revenue declined 8 percent to Rs 17 crore in Q2 2020 from Rs 18 crore.
Print – Hindi Ad revenue declined 6 percent y-o-y to Rs 139 crore in Q2 2020 from Rs 147 crore. Print Hindi Circulation revenue declined 7 percent y-o-y during the period under review to Rs 50 crore in Q2 2020 from Rs 54 crore.
Company speak
HT Media and Hindustan Media Ventures chairperson and editorial director Shobhana Bhartia said, “Slowing economic growth has hit advertising spends in key categories, putting pressure on revenues across the media industry. As a result, our Print and Radio (on like to like basis) businesses saw revenues dip as compared to a year-ago. However, thanks to lower commodity prices and a tight control on costs, we saw an improvement in our operating profit. On the digital front, Shine, our online recruitment portal has shown good progress and continues to grow. Our outlook for the coming quarter remains cautious, given overall economic sentiment and macroeconomic trends. Cost-control and falling commodity prices should help protect our margins.”
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
