HT Media Q2 revenue up 0.5%

HT Media Ltd, the publisher of Hindustan Times, on Friday reported a 0.5% rise in total revenues to Rs 594.8 crore for the July-September quarter from Rs 591.6 crore a year ago.

HT Media Ltd, the publisher of Hindustan Times, on Friday reported a 0.5% rise in total revenues to Rs 594.8 crore for the July-September quarter from Rs 591.6 crore a year ago.

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Operating EBITDA (earnings before interest, tax, depreciation and amortisation) in the quarter rose by 12% to Rs 72.1 crore from Rs 64.3 crore in the year-ago period, the company said in a statement to Bombay Stock Exchange.

Commenting on the performance, HT Media chairperson and editorial director Shobhana Bhartia said: “We are glad to report a stable growth in operating revenue and profit this quarter on the back of increased advertising volumes and yields for most of our dailies.”

HT Media’s digital businesses have shown robust growth and its radio business continues to outperform, she said.

The company said it has cash reserves of Rs 1,039 crore and is exploring new opportunities.