Hindustan Media Ventures Limited reported a significant turnaround in profitability for the first quarter of FY27, with net profit after tax (PAT) surging 113% year-on-year to ₹56 crore. The company name posted total revenue of ₹244 crore, a 28% increase from ₹191 crore in the corresponding quarter of the previous fiscal year. This performance underscores the effectiveness of its cost discipline strategies and steady advertising demand, despite broader macroeconomic headwinds such as elevated newsprint prices and supply-chain uncertainties.

The filing, submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, details consolidated results for the quarter ended June 30, 2026. The Board of Directors also approved a preferential issue last month, subject to regulatory and shareholder approval, aimed at strengthening the capital structure and streamlining the debt profile. This strategic move is intended to provide capital for general business requirements as the company navigates a changing media landscape.

Financial Performance Overview

The company’s financial metrics reflect strong operational leverage. EBITDA grew 109% to ₹75 crore, up from ₹36 crore in Q1FY26, pushing the EBITDA margin from 19% to 31%. Revenue from operations stood at ₹197 crore, an 20% increase year-on-year. While sequential growth was modest, with revenue rising 6% quarter-on-quarter to ₹244 crore, the year-on-year trajectory indicates a robust recovery in core business segments.

Segmental Highlights

Print remained the anchor of the business, contributing significantly to the top-line growth. Advertising revenue within the print segment grew steadily, while circulation revenue remained resilient. The English print division saw advertisement revenue rise 12% to ₹156 crore, while the Hindi division recorded a 20% jump to ₹139 crore. Conversely, the digital segment experienced moderated revenue, falling 28% to ₹27 crore, as the company deliberately reset its portfolio around leaner, more focused offerings to drive sustainable profitability. Radio revenue remained broadly steady at ₹32 crore, following the surrender of licenses for non-viable stations to create a more sustainable footprint.

What the Numbers Show

A key analytical observation from the Q1FY27 results is the divergence between operating revenue growth and other income. While operating revenue grew by 20%, other income surged by 75% to ₹47 crore, contributing significantly to the total revenue growth of 28%. This suggests that non-operating factors played a substantial role in the quarter’s financial performance. Additionally, the expansion in EBITDA margin from 19% to 31% highlights effective cost control measures, particularly in employee costs which decreased by 8% despite revenue growth. This operational efficiency, combined with the strategic restructuring of the digital and radio segments, positions Hindustan Media Ventures for improved long-term sustainability.

Hindustan Media Ventures Limited reported a consolidated net profit of ₹51.17 crore for the quarter ended June 30, 2026 (Q1FY26), marking a 398% year-on-year increase from ₹10.24 crore in Q1FY25. The sharp profitability turnaround was driven by robust performance in its core newspaper publishing segment, which more than offset losses from the discontinued OTTplay streaming service. This result underscores the operational resilience of the print media business amidst broader industry shifts, offering shareholders improved returns despite ongoing wind-down costs in digital ventures.

The Board of Directors approved the unaudited financial results on August 4, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Statutory auditors S.R. Batliboi & Co. LLP issued an unmodified review conclusion on both standalone and consolidated financial statements under Regulation 33 of the SEBI LODR. The results were prepared in accordance with Ind AS 34 "Interim Financial Reporting" and presented in compliance with Ind AS 105 "Non-current Assets Held for Sale and Discontinued Operations" following the decision to discontinue OTTplay effective March 31, 2026.

Revenue from operations for the consolidated group stood at ₹197.18 crore, up 19.8% from ₹164.60 crore in Q1FY25. Total income, including other income of ₹46.88 crore, reached ₹244.06 crore compared to ₹191.32 crore in the prior year period. EBITDA for the quarter was ₹75.15 crore from continuing operations, reflecting an expansion in operating leverage. Total expenses rose moderately to ₹174.96 crore from ₹161.30 crore year-on-year, with employee benefits remaining stable at ₹35.04 crore and finance costs increasing slightly to ₹2.27 crore.

Conversely, the discontinued OTTplay business reported a loss after tax of ₹4.46 crore for the quarter, a significant improvement from the ₹15.83 crore loss recorded in Q1FY25. The board had ceased new subscription offers for OTTplay from March 31, 2026, leading to restated financial results for comparative periods. Standalone results mirrored the consolidated trend, with net profit rising to ₹50.87 crore from ₹10.03 crore in the previous year, supported by similar dynamics in the holding company's operations.

Key Financial Metrics

The table below summarises the key financial metrics for the quarter:

What the Numbers Show

The divergence between revenue growth and profit expansion highlights significant margin improvement in the core publishing business. While revenue grew by nearly 20%, EBITDA from continuing operations more than doubled, suggesting fixed cost absorption efficiencies or favorable mix shifts within the newspaper portfolio. The substantial reduction in losses from discontinued operations further insulated the bottom line, allowing the group to report near-record quarterly profits. This structural shift indicates that the company is successfully transitioning away from its unprofitable digital streaming arm while strengthening its cash-generative print operations.