HT Media Limited has announced an update regarding its FM Radio operations in Chennai, putting the previously planned closure on hold. The media company informed stock exchanges about this development concerning its subsidiary's radio station operations.

Reversal of Closure Decision

The company has decided to keep the closure of its Fever FM Radio Station operations in Chennai on hold, reversing its earlier decision. This update comes as a continuation of the disclosure made previously, when the company had initially announced plans to shut down operations.

Subsidiary Company Details

HT Music and Entertainment Company Limited (HTME), a wholly owned subsidiary of HT Media Limited, operates the Fever FM Radio Station in Chennai. The subsidiary had previously surrendered the license issued by the Ministry of Information and Broadcasting (MIB), Government of India, for operating the FM Radio Station.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and National Stock Exchange of India Limited about this development.

The decision to keep the closure on hold suggests that HT Media may be reconsidering its strategy for the Chennai FM Radio operations, though the company has not provided specific reasons for this reversal in its regulatory filing.

HT Media Limited , a leading media company, reported improved financial results for the quarter ended September 30, with increased revenue and enhanced profitability compared to the same period last year.

Financial Performance

The company's consolidated revenue grew by 4% year-on-year to ₹499.00 crore, also marking an 11% sequential increase. HT Media significantly improved its EBITDA to ₹44.00 crore from ₹33.00 crore in the same quarter last year, with margins expanding to 9% from 7%.

The company narrowed its losses, with Profit After Tax (PAT) improving to -₹4.00 crore from -₹6.00 crore year-on-year, demonstrating progress towards profitability.

Segment Performance

HT Media's financial results reveal varied performances across its different business segments:

Print Business

The print segment drove growth with operating revenue rising 7% annually to ₹358.00 crore, led by a robust 10% growth in advertising revenue to ₹278.00 crore. Notably, print operating margins expanded substantially to 11% from 6%, showcasing improved efficiency in this traditional segment.

Digital Segment

The digital segment demonstrated strong growth with a 10% increase in revenue to ₹61.00 crore. However, margins in this segment remained under pressure at -49%, indicating ongoing investments and challenges in digital monetization.

Radio Business

The radio broadcast segment showed sequential improvement with a 4% quarterly revenue growth to ₹32.00 crore. However, on an annual basis, revenue declined by 8%, reflecting the challenges faced by traditional audio media.

Balance Sheet and Liquidity

HT Media maintained a strong cash position of ₹947.00 crore, providing the company with financial flexibility to navigate market uncertainties and invest in growth opportunities.

Future Outlook

While HT Media has shown improvement in its financial performance, particularly in its print and digital segments, challenges remain in achieving profitability across all business areas. The company's focus on digital growth and maintaining strength in its traditional print business appears to be yielding positive results.

As the media landscape continues to evolve, HT Media's ability to innovate across its various segments and capitalize on emerging opportunities will be crucial for sustained growth and profitability in the coming quarters.

Investors and stakeholders will be watching closely to see if the company can maintain this positive momentum and further improve its bottom line in future reporting periods.