HT Media Q4 results: Net loss widens to Rs 61.59 crore

New Delhi: HT Media on Friday reported its consolidated net loss widening to Rs 61.59 crore in the January-March quarter of FY'20.

The company had posted a net loss of Rs 21.08 crore in the same quarter of the previous fiscal, HT Media Ltd said in a regulatory filing.

Its revenue from operations was down 13.64 per cent to Rs 466.88 crore during the period under review as against Rs 540.66 crore in the March 2019 quarter.

"India's GDP growth has continued to soften through all four quarters of FY2019-20. The outbreak of the COVID-19 pandemic further intensified the challenges faced by the economy during the quarter, especially in the metros. Advertising, which is the mainstay of our newspaper and radio businesses, has seen a decline in the quarter," HT Media Chairperson and Editorial Director Shobhana Bhartia said.

Despite pressure on revenue, HT Media recorded an increase in profits and improvement in operating margins on the back of favourable newsprint prices and a focus on cost control, she added.

HT Media's total expenses were at Rs 504.19 crore in Q4 FY2019-20, down 20.45 per cent from Rs 633.84 crore in the corresponding quarter a year earlier.

Its revenue from printing and publishing of newspapers and periodicals segment during the said quarter was Rs 402.66 crore, down 14.74 per cent, as against Rs 472.31 crore.

While revenue from radio broadcast and entertainment was at Rs 41.97 crore, down 10.83 per cent, as against Rs 47.07 crore.

However, revenue from digital segment was up 14.18 per cent at Rs 19.80 crore from Rs 17.34 crore.

For the fiscal year 2019-20, HT Media's net loss was Rs 217.42 crore. It had a net profit of Rs 15.89 crore in the previous financial year.

Its revenue from operations for the fiscal 2019-20 was Rs 2,104.74 crore, down 4.28 per cent.

Shares of HT Media Ltd fell 3.35 per cent to close at Rs 13.86 apiece on the BSE.