HT Media has announced its financial results for the quarter ended June 30, 2024. The publication has reported a decline in the overall revenue impacting profitability for the reported quarter. 

In the April-June 2024 quarter (Q1’25), the publication reported a total revenue of Rs 427 crore, a decline of 19% from Rs 527 crore in this year’s January-March quarter.

The EBITDA for Q1’25 stood at Rs 7 crore, a drop of 89% from Q4’24.

The publishing house’s ad revenue stood at Rs 219 crore for the quarter, a 25% decline from Rs 293 crore in Q4’24.

The group’s circulation revenue stood at Rs 55 crore in the April-June 2024 period. This was Rs 56 crore in the January-March quarter and Rs 60 crore in April-June 2023.

HT Media’s operating revenue saw a decline of 21% from Q1 to Q2 of 2024, standing at Rs 299 crore.

For the group’s English publications, government-led ad revenue also declined in the quarter, with key commercial sectors seeing y-o-y growth. The ad revenue stood at Rs 117 crore, 25% lower than Q4’24 and 10% less than the previous year’s similar quarter. 

The circulation revenue stood at Rs 15 crore, 7% lesser than Q4’24 and 4% lesser than previous year’s similar quarter.

As for the Hindi publications, the ad revenue experienced a 24% drop when compared to Q4’24 and 11% drop when compared to the previous year’s similar quarter.

For the reported quarter, marginal y-o-y growth was noted in operating revenue with operating EBITDA at break-even for the radio segment. The operating revenue stood at Rs 36 crore, which was 3% lesser than Q1’24. 

The digital revenue increased on an annual as well as sequential basis owing to topline improvement in key businesses. The continuing loss on account of OTT Play, however, is lower than the sequential quarter. The operating revenue stood at Rs 47 crore, 31% higher than Q1’24.