HT Media Ltd — Interim / Quarterly Report 2021

Aug 4, 2021

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August 04, 2021

Ref: HTML/CS/02/2021

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI - 4OO OOl

The National Stock Exchange of India Limited Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E) MUMBAI - 4OO O5I

Scrip Code: 532662

Trading Symbol: HTMEDIA

Dear Sirs,

Sub:

Please find enclosed a presentation on the Un-audited Financial Results of HT Media Limited for the quarter ended on 30b June, 2021.

This is for your information and records.

Thanking you,

Limited Yours faithfirlly,

DINESH MITTAL Digitally signed by DINESH MITTAL Date: 2021.08.04 15:32:24 +05'30'

Enclz As above

Consolidated Financial Results HT MEDIA GROUP Q1 FY 2021-22

Certain statements in this presentation may be forward-looking statements.

Such forward looking statements are subject to risks and uncertainties like regulatory changes, local political and economic developments, technological risks and many other factors that could cause our actual results to differ materially from those contained in the relevant forwardlooking statements.

HT Media Group will not, in any way, be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

This is a quarterly webcast presentation, combining information for the public listed companies "HT Media Limited" and its subsidiary "Hindustan Media Ventures Limited". Key objective of this presentation is to facilitate a unified platform for quarterly performance discussion pertaining to both the companies. It is neither intended to be an exhaustive review nor to provide any trading, financial, legal advice or outlook.

Chairperson's Message

"Economic activity gathered momentum in the third and fourth quarters of 2020-21, but the second wave of Covid-19 and the surge of infections it brought with it affected the beginning of the new fiscal year. All Indian states imposed lockdowns and restricted movement and activities to combat the surge, the economy took a hit, and advertisers turned cautious.

Our learnings from 2020 and the first wave stood us in good stead in this challenging environment, and our operations remained resilient even as we recovered smartly from the lows of the second wave. Advertising revenue in our Print and Radio businesses was better compared to the same quarter last year. Our Shine Business also showed good growth, led by Shine learning. Circulation revenue too continue to improve - sequentially as well as over last year.

With infections ebbing, consumer sentiment improving, and business activities almost at pre-pandemic levels, we expect pent-up demand to drive consumer and advertiser spending in the near term, followed by sustained demand as the economy looks up. Our constant focus and endeavor is to offer our audience reliable and engaging news and information, and high-quality entertainment."

Mrs. Shobhana Bhartia Chairperson and Editorial Director HT Media Ltd & Hindustan Media Ventures Ltd

Table of Contents

PARTICULARS	SLIDENO.
ConsolidatedPerformance Q1 FY 2021-22	5
Business UnitPerformance Q1 FY 2021-22	7
Print	8
Print–English	10
Print –Hindi (HMVL)	12
Digital	14
Radio	16
Annexures	20

CONSOLIDATED PERFORMANCE Q1 FY 2021-22

CONSOLIDATED PERFORMANCE KEY HIGHLIGHTS

Particulars (Rs Cr)	Q1'21	Q1'22	Change	YoY
Total Revenue	239	281	43	18%
EBITDA	-24	-43	-20	-84%
EBITDA margin (%)	-10%	-15%
PAT1	-52	-76	-24	-45%
PAT margin (%)	-22%	-27%
Net Cash2	1,011	1,108	97	10%

1PAT is after share of profit/(loss) from Associate/JV

2 Balance at the end of the period

• Consolidated Revenue
  • o Operating Revenue up by 46% YoY – growth across all businesses
  • o Softer Revenue versus Q4 , because of Covid-19 Wave 2 impact
• There has been increase in paper consumption & newsprint rate versus last year. Despite that, better operating performance

BUSINESS UNIT PERFORMANCE Q1 FY 2021-22

PRINT – ENGLISH

PRINT – HINDI

DIGITAL

Print

FINANCIAL PERFORMANCE

Particulars (Rs Cr)	Q1'21	Q1'22	Change	YoY
Ad Revenue	85	132	47	55%
Circulation Revenue1	41	50	9	23%
Operating Revenue	144	203	59	41%
Operating EBITDA	(61)	(54)	7	11%
Op EBITDA margin (%)	-42%	-27%
1Circulation revenue excludes impact of copy booking costKEY DRIVERS

• • Growth in Ad Revenue in both Commercial and Government segments
• • Circulation revenue improved sequentially and YoY
• Op EBITDA impacted by high newsprint prices and increased consumption with accelerated momentum in circulation
• Decline in Ad revenue versus Q4'21 pursuant to fresh restrictions after Covid-19 wave 2

PRINT – ENGLISH

PRINT – HINDI

DIGITAL

Print – English

• • Growth in Ad revenue from both national and local advertisers
• • Sharp increase in Ad volumes
• • Growth in most categories high growth in categories such as Classifieds, Real Estate, E-commerce and Durables; Government continued to perform better in a tough environment
• • Circulation revenue growth led by improvement in both realizations and copies in circulation

PRINT – ENGLISH

PRINT – HINDI

DIGITAL

Print – Hindi

• • Increase in Ad revenue across most categories higher growth in FMCG, Health & Fitness and Automobiles
• • Growth in Circulation revenue on YOY and sequential basis

PRINT – ENGLISH

PRINT – HINDI

DIGITAL

Digital

FINANCIAL PERFORMANCE

Particulars (Rs Cr)	Q1'21	1Q1'22	Change	YoY
Operating Revenue	14	29	15	102%
Operating EBITDA	-3	0	3	104%
Op EBITDA Margin (%)	-23%	0%
1Q1'22 includes Mosaic Media acquisition

PERFORMANCE DRIVERS

• • Operating revenue in Q1'22 doubled on YoY basis, led by growth in Shine Learning, Digital Entertainment and Mosaic Media
• • EBITDA break even in Q1'22; Significant Improvement versus previous performance both on YOY and Sequential basis

PRINT – ENGLISH

PRINT – HINDI

DIGITAL

FINANCIAL PERFORMANCE

Particulars (Rs Cr)	Q1'21	Q1'22	Change	YoY
Operating Revenue	8	12	4	44%
Operating EBITDA	-25	-16	8	34%
Op EBITDA Margin (%)	-295%	-134%
PERFORMANCE DRIVERS

• • Lower Operating losses on the back of improvement in Ad revenue and restructured cost base
• Higher impact of Covid-19 on Radio sector due to exposure to MSME and retail clients

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HT Media Group

Hindustan Times House, 2nd Floor, 18-20, Kasturba Gandhi Marg New Delhi – 110001, India

Anna Abraham Amit Madaan Sankalp Raghuvanshi IR@hindustantimes.com

Ravi Gothwal

htmedia@churchgatepartners.com

ANNEXURES

Consolidated P&L – HT Media Ltd

Particulars (Rs Cr)	Q1'21	Q1'22	YoY (%)	Q4'21	Seq (%)
Operating Revenue	167	244	46%	349	-30%
Other Income	72	38	-48%	49	-23%
Total Revenue	239	281	18%	398	-29%
Raw Materials & change in inventory	49	74	53%	81	-8%
Employee Cost	93	93	1%	69	36%
Other expenses	121	157	30%	179	-12%
EBITDA	-24	-43	-84%	70	-162%
Margin (%)	-10%	-15%		18%
PAT1	-52	-76		19
Margin (%)	-22%	-27%		5%

1PAT is after share of profit/(loss) from Associate/JV

Consolidated P&L – Hindustan Media Ventures Ltd

Particulars (Rs Cr)	Q1'21	Q1'22	YoY (%)	Q4'21	Seq (%)
Operating Revenue	90	109	21%	162	-33%
Other Income	49	21	-58%	13	56%
Total Revenue	139	130	-7%	175	-26%
Raw Materials & change in inventory	34	46	35%	52	-12%
Employee Cost	37	38	4%	26	47%
Other expenses	46	58	26%	58	0%
EBITDA	22	-12	-155%	39	-132%
Margin (%)	16%	-10%		22%
PAT1	10	-24		21
Margin (%)	7%	-18%		12%

1PAT is after share of profit/(loss) from Associate/JV