HT Media Reports 4% Revenue Growth and 33% EBITDA Jump in Q2 FY26

Hindustan Media Ventures , a leading media company, has reported a solid performance for the second quarter of fiscal year 2026, with growth in both operating revenue and profitability. The company's consolidated financial results show improvements on both annual and sequential bases.

Key Financial Highlights

Metric	Q2 FY26	YoY Change
Total Revenue	INR 499.00 crores	+4%
EBITDA	INR 44.00 crores	+33%
EBITDA Margin	9.00%	+200 bps
PAT Margin	-1.00%	-
Net Cash Position	INR 947.00 crores	-

Business Segment Performance

Print Business

The Print segment demonstrated strong growth, with advertising revenues increasing by 10% year-over-year to INR 278.00 crores. The total operating revenue for the Print business grew by 7%, while the operating EBITDA nearly doubled to INR 40.00 crores compared to the same period last year. The EBITDA margins in this segment expanded by an impressive 500 basis points.

English Print

Ad Revenue: INR 154.00 crores (+8% YoY, +10% QoQ)
Circulation Revenue: -15% YoY, +20% QoQ

Hindi Print

Ad Revenue: +13% YoY, +7% QoQ
Circulation Revenue: Flat YoY and QoQ

Radio Business

The Radio segment continues to face challenges, with revenue slightly declining to INR 32.00 crores compared to the same period last year. However, there was a 4% sequential growth. The operating EBITDA for this segment was negative INR 4.00 crores.

Digital Business

The Digital segment, primarily consisting of the OTTplay business, showed promising growth:

Operating Revenue: +10% YoY, +8% QoQ
Operating EBITDA: Negative INR 30.00 crores

Strategic Initiatives and Outlook

Hindustan Media Ventures is adapting to the evolving media landscape by:

Driving the Digital business through targeted content initiatives.
Reinforcing the value of the core Print portfolio.
Sharpening the focus of the Radio business on integrated formats and immersive audience experiences.

The company reported a significant reduction in subscriber acquisition costs for its OTTplay platform in September, along with an increase in subscriber numbers and improved renewal rates.

Management Commentary

Piyush Gupta, Group CFO of Hindustan Media Ventures, commented on the results: "We've got a good set of numbers. We will always strive to bring in the best performance and the best numbers. At this point in time, what looks like that we will be able to repeat the performance and look forward to seeing you in the next quarter's call."

The company remains committed to informing, educating, and entertaining its large and diverse audience while navigating the challenges and opportunities in the media industry.

Newsprint Prices and Future Outlook

Regarding newsprint prices, which are a significant cost factor for the Print business, the company noted that current prices are in the lowest quartile of the commodity cycle. While there may be a gradual increase in prices according to industry estimates, Hindustan Media Ventures has sufficient inventory at present and is in discussions with suppliers for forward buying.

As Hindustan Media Ventures continues to adapt to the changing media landscape, it remains focused on leveraging its strengths across print, radio, and digital platforms to drive growth and profitability in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.67%	+3.98%	-7.80%	-21.62%	-13.31%	+50.32%

Hindustan Media Ventures Limited (HMVL) has released its financial results for the quarter and half year ended September 30, showing revenue growth and announcing a significant investment decision.

Q2 Financial Performance

HMVL reported revenue from operations of ₹19.87 crore for the quarter, representing an increase from both the previous quarter (₹18.29 crore) and the same quarter last year (₹17.19 crore). This indicates a positive trend in the company's top-line performance.

Investment Approval

In a strategic move, the Board of HMVL has approved an investment of up to ₹16.22 crore in AI Growth Private Limited. This investment will be made through equity shares or convertible preference shares. AI Growth operates platforms for fixed income investments and debt financing solutions.

AI Growth's Financial Track Record

AI Growth has shown significant growth over the past few years:

Financial Year	Turnover (₹ crore)
FY2024	21.24
FY2023	12.80
FY2022	0.62

Investment Rationale and Timeline

The investment in AI Growth is aimed at achieving capital returns and leveraging media assets. HMVL expects to complete this investment by September 2030.

Looking Ahead

As HMVL continues to grow its revenue and explore new investment opportunities, the company's performance in the coming quarters will be of interest to investors and stakeholders. The investment in AI Growth, coupled with the company's own revenue growth, suggests a focus on diversification and potential synergies between media and financial technology sectors.