earnings presentation [company update]
TRANSCRIPT
1
HT
Med
ia L
td
(NS
E:
HT
ME
DIA
; B
SE
: 5
32
66
2)
Q1
FY
20
16 E
arn
ings
Pre
sen
tati
on
Ju
ly 1
6, 20
15
2
Pa
rtic
ula
rs
Sli
de
no
Fin
anci
al H
ighli
ghts
3
Op
erat
ion
al H
igh
ligh
ts
5
Fin
anci
al O
ver
vie
w
7
Ab
ou
t U
s 11
Co
nta
ct U
s 1
3
Tab
le o
f C
on
ten
ts
Co
nfe
ren
ce D
ial-
In N
um
ber
s (J
uly
16
, 2
01
5 a
t 11
:00am
IS
T)
Pri
mar
y N
um
ber
+
91
22
39
38
10
74
/ +
91
22
67
46
83
49
Lo
cal A
cces
s N
um
ber
6
00
0 1
22
1 /
39
40
39
77
Th
e n
um
ber
s li
sted
ab
ove
are
un
iver
sall
y a
cces
sib
le f
rom
all
net
wo
rks
an
d a
ll c
ou
ntr
ies
To
ll F
ree
Nu
mb
er
US
A:
1 8
66
74
6 2
13
3
UK
: 0
80
8 1
01
15
73
Sin
gap
ore
: 8
00
10
1 2
04
5
Ho
ng
Ko
ng
: 8
00
96
4 4
48
3
Fin
anci
al H
igh
lig
hts
§T
ota
l R
even
ue
incr
ease
d b
y 5
% t
o R
s. 6
,15
3 m
illi
on
§A
dv
erti
sin
g R
even
ue
gre
w b
y 5
%;
Cir
cula
tio
n R
even
ues
gre
w b
y 6
.3%
vs.
las
t yea
r
§E
BIT
DA
was
do
wn b
y (
16
.2%
) v
s. l
ast
yea
r at
Rs.
85
0 m
illi
on
; E
BIT
DA
mar
gin
s o
f 1
3.8
%
§PA
T w
as l
ow
er b
y (
15
.2%
) at
Rs.
35
7 m
illi
on
; PA
T m
arg
ins
of
5.8
%
§S
tro
ng
bal
ance
sh
eet
po
siti
on w
ith
Net
Cas
h o
f R
s. 1
1,9
91
Mil
lio
n
§E
PS
fo
r th
e q
uar
ter
sto
od
at
Rs.
1.0
7 a
s co
mp
ared
to
Rs.
1.4
0 i
n t
he
last
yea
r
Ma
na
gem
ent
Co
mm
enta
ry
Hig
hli
gh
ts –
Q1
FY
20
16
vs.
Q1
FY
20
15
“ T
he
ye
ar
sta
rte
d w
ell
fo
r u
s a
lth
ou
gh
eco
no
mic
gro
wth
is
stil
l sl
ow
an
d t
he
re a
re m
ixe
d s
ign
als
on
acc
ou
nt
of
glo
ba
l m
acr
oe
con
om
ic c
on
cern
s.
Ou
r E
ng
lish
d
ail
ies
saw
vo
lum
e-l
ed
g
row
th
acr
oss
m
ark
ets
. H
ind
ust
an
m
ain
tain
ed
it
s u
pw
ard
g
row
th
tra
ject
ory
, d
rive
n b
y o
ur
inve
stm
en
ts i
n b
oth
UP
an
d B
iha
r. O
ur
dig
ita
l a
sse
ts a
re i
ncr
ea
sin
gly
ga
inin
g a
foo
tho
ld i
n t
he
ir m
ark
ets
. T
he
Ra
dio
bu
sin
ess
co
nti
nu
es
to b
e p
rofi
tab
le a
nd
we
aim
to
ad
d t
o o
ur
po
rtfo
lio
of
sta
tio
ns
in P
ha
se-
III
au
ctio
ns.
As
the
ye
ar
pro
gre
sse
s, w
e b
elie
ve
th
at
we
wil
l co
nti
nu
e o
n t
he
gro
wth
pa
th a
nd
de
live
r p
osi
tive
re
sult
s e
ve
n
as
the
eco
no
mic
en
vir
on
me
nt im
proves”
Co
mm
enti
ng
on
th
e re
sult
s an
d p
erfo
rman
ce,
Mrs
. S
ho
bh
an
a B
ha
rtia
, C
hair
per
son
an
d E
dit
ori
al
Dir
ecto
r,
HT
Med
ia s
aid
:
4
Fin
anci
al H
ighli
gh
ts
Q1
FY
16
(y
-o-y
an
d q
-o-q
)
y-o-y
Q
1Q
4q-o
-q
Rs.
mil
lio
nF
Y2
01
6F
Y2
01
5G
row
th
(%)
FY
20
16
FY
20
15
Gro
wth
(%)
Ad
ver
tisi
ng R
even
ues
4,6
75
4,4
54
5.0
%4,6
75
4,6
53
0.5
%
Cir
cula
tio
n R
even
ues
729
686
6.3
%729
711
2.5
%
Oth
er R
even
ues
748
719
4.0
%748
903
-17
.2%
To
tal
Reven
ues
6,1
53
5,8
59
5.0
%6,1
53
6,2
67
-1.8
%
Co
nsu
mp
tio
n o
f R
aw M
ater
ials
1,7
71
1,8
57
-4.6
%1,7
71
1,7
43
1.6
%
Em
plo
yee
Co
st
1,3
79
1,2
52
10
.2%
1,3
79
1,2
18
13
.2%
EB
ITD
A850
1,0
14
-16
.2%
850
981
-13
.4%
Ma
rgin
(%
)1
3.8
%1
7.3
%1
3.8
%1
5.7
%
Pro
fit
aft
er
Ta
x (
PA
T)
357
421
-15
.2%
357
493
-27
.7%
Ma
rgin
(%
)5
.8%
7.2
%5
.8%
7.9
%
Ba
sic E
PS
(R
s.)
1.0
71.4
0-2
3.6
%1.0
71.6
9-3
6.7
%
Q1
5
Oper
atio
nal
Hig
hli
gh
ts
HT
ML
ha
s th
e se
con
d l
arg
est
rea
d n
ewsp
ap
ers
in E
ng
lish
, H
ind
i a
nd
Bu
sin
ess
Da
ily
seg
men
ts
- 2
01
4 I
RS
Res
ult
s
2014 I
RS
Rea
der
ship
Min
t2
0.3
0 m
illion
Hin
du
sta
n (
HH
)
- A
ll I
ndia
14.7
5 m
illion
HT D
elh
i N
CR
2.3
0 m
illion
HH
UP &
UT
8.0
9 m
illion
HT
1 -
All I
ndia
4.5
2 m
illion
HT M
um
bai
1.4
4 m
illion
HH
Bih
ar
4.3
8 m
illion
HH
Jh
ark
han
d
1.3
1 m
illion
HH
Delh
i N
CR
1.0
7 m
illion
1Hindustan Times; 2Mint:Business Daily
201
3 I
RS
Rea
der
ship
0.2
7 m
illion
14.2
5 m
illion
2.2
7 m
illion
7.6
3 m
illion
4.3
4 m
illion
1.3
6 m
illion
4.2
7 m
illion
1.4
0 m
illion
1.0
6 m
illion
6
Oper
atio
nal
Hig
hli
gh
ts
Dig
ita
l b
usi
nes
s co
nti
nu
es t
o g
row
ro
bu
stly
Ra
dio
bu
sin
ess
pro
gre
ssin
g a
t a
ste
ad
y p
ace
•29%
in
cre
ase in
re
ven
ue fr
om
D
igit
al
segm
en
t to
R
s.
306 m
illion
fr
om
R
s.
237
million
in
th
e s
am
e q
uart
er
last
year.
•S
hin
e.c
om
regis
tere
d r
even
ue g
row
th o
f ~9%
in
Q1’FY
16 v
s. Q
1 last
year.
•H
T M
obile r
egis
tere
d a
reven
ue g
row
th o
f 71%
in
Q1’FY
16 v
s. Q
1 last
year.
•2.3
% in
cre
ase in
reven
ue t
o R
s.2
45 m
illion
in
Q1’FY
16 f
rom
Rs.
240 m
illion
in
Q1
last
year
dri
ven
by a
dvert
isin
g r
even
ue g
row
th.
•E
BIT
DA
gre
w b
y 2
.7%
to R
s.
95 m
illion
fro
m R
s.
93 m
illion
; M
arg
ins i
mpro
ved t
o
35.9
% fro
m 3
5.6
% d
uri
ng s
am
e p
eri
od last
year.
7
35
7
42
1
Q1
F
Y1
6Q
1 F
Y1
5
85
0
1,0
14
Q1
F
Y1
6Q
1 F
Y1
5
Rev
enu
e 1
oT
ota
l re
ven
ue
up
5%
at
Rs.
6,1
53
mil
lio
n f
rom
Rs.
5,8
59
mil
lio
n :
•5
% i
ncr
ease
in
adv
erti
sing
rev
enu
e to
Rs.
4,6
75
mil
lion
fro
m R
s. 4
,454
mil
lio
n p
rim
aril
y d
ue
to i
ncr
ease
in
ad
ver
tisi
ng
vo
lum
es.
•6
.3%
in
crea
se i
n c
ircu
lati
on
rev
enu
e to
Rs.
729
mil
lion
fro
m R
s. 6
86
mil
lio
n d
ue
to h
igh
er c
ircu
lati
on
wel
l as
hig
her
net
rea
liza
tion
per
co
py.
EB
ITD
A M
arg
in
2
oE
BIT
DA
(16
.2%
) lo
wer
th
an l
ast
yea
r at
Rs.
850
m
illi
on
fro
m R
s. 1
,01
4
mil
lio
n p
rim
aril
y d
ue
to :
•(3
6.4
%)
incr
ease
in
ad
ver
tisi
ng
& S
ales
Pro
mo
tio
n e
xp
ense
s an
d (
20
.8%
)
incr
ease
in
gen
eral
an
d a
dm
in c
ost
s co
up
led
wit
h,
•(1
0.2
%)
incr
ease
in e
mp
loyee
co
sts
to R
s. 1
,379
mil
lio
n f
rom
Rs.
1,2
52
mil
lio
n d
ue
to i
mp
act
of
new
hir
ing, in
crem
ents
bei
ng
par
tial
ly o
ff-s
et b
y,
•D
ecli
ne
in r
aw m
ater
ial
cost
s b
y 4
.6%
(d
ue
to d
rop
in
new
spri
nt
cost
s)
5%
* R
s. M
illi
on
Pro
fit
Aft
er T
ax
3
oPA
T d
ow
n b
y (
15
.2%
) at
Rs.
35
7 m
illi
on
fro
m R
s. 4
21
mil
lio
n o
win
g t
o
low
er E
BIT
DA
bei
ng
par
tial
ly o
ff-s
et b
y l
ow
er d
epre
ciat
ion
an
d i
nte
rest
char
ge.
(16
.2%
)
(15
.2%
)
Fin
anci
al O
ver
vie
w –
All
com
par
isons
are
y-o
-y
6,1
53
5,8
59
Q1
F
Y1
6Q
1 F
Y1
5
8
Fin
anci
al O
ver
vie
w –
Quar
terl
y
Rev
enu
e (R
s. M
illi
on
) a
nd
Gro
wth
(%
)
EB
ITD
A (
Rs.
Mil
lio
n)
an
d M
arg
in (
%)
PA
T (
Rs.
Mil
lio
n)
an
d M
arg
in (
%)
Rev
enu
e B
rea
kd
ow
n (
%)
5,8
59
5
,94
8
6,4
99
6,2
67
6,1
53
1.5
%
9.3
%
-3.6
%
-1.8
%
-10
.0%
-5.0
%
0.0
%
5.0
%
10
.0%
15
.0%
20
.0%
Q1
FY
15
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
1,0
14
1
,06
0
1,3
06
98
1
85
0
17
.3%
1
7.8
%
20
.1%
15
.7%
1
3.8
%
Q1
FY
15
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
42
1
52
6
73
9
49
3
35
7
7.2
%
8.8
%
11
.4%
7.9
%
5.8
%
Q1
FY
15
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
72
%
71
%
72
%
70
%
72
%
4%
4
%
4%
4
%
4%
1
2%
1
2%
1
1%
1
1%
1
2%
12
%
13
%
12
%
14
%
12
%
Q1
FY
15
Q2
FY
15
Q3
FY
15
Q4
FY
15
Q1
FY
16
Ad
ver
tisi
ng
- P
rin
tA
dv
erti
sin
g -
Rad
ioC
ircu
lati
on
Oth
er R
even
ue
9
Fin
anci
al O
ver
vie
w (
Conso
lid
ated
Inco
me
stat
emen
t)
Pa
rtic
ula
rs
30.0
6.2
015
30.0
6.2
014
Sh
ift
(%)
(Un
- a
ud
ite
d)
(Un
- a
ud
ite
d)
Net
Sale
s /
Incom
e fro
m o
pera
tions
5,8
26
5,4
05
7.8
%
Oth
er
Opera
ting Incom
e46
59
-2
2.9
%
To
tal
Inco
me
fro
m o
pe
rati
on
s5,8
72
5,4
64
7.5
%
Oth
er
incom
e281
395
-28.8
%
To
tal
Inco
me
6,1
53
5,8
59
5.0
%
(Incre
ase)/
Decre
ase in Inve
nto
ry(6
)
(1
)
Consum
ption o
f R
aw
Mate
rials
1,7
71
1,8
57
-4
.6%
Em
plo
yees C
ost
1,3
79
1,2
52
10.2
%
Oth
er
Expenditure
2,1
59
1,7
37
24.3
%
To
tal
Ex
pe
nd
itu
re5,3
03
4,8
44
9.5
%
EB
ITD
A850
1,0
14
-1
6.2
%
Ma
rgin
(%
)1
4%
17
%
Depre
cia
tion
228
273
-16.6
%
Inte
rest
& fin
ance c
harg
es
94
148
-36.1
%
Pro
fit
be
fore
ta
x527
593
-11.1
%
Ma
rgin
(%
)9
%1
0%
Exceptional Item
s-
-
Tax E
xpense
171
173
-1.1
%
Pro
fit
aft
er
tax
357
421
-15.2
%
Ma
rgin
(%
)6
%7
%
Share
of pro
fit/
(loss)
of associa
tes
-
(7)
Min
ority
inte
rest
- (P
rofit
) /
Loss
(107)
(87)
Ne
t In
co
me
250
327
-23.6
%
Ma
rgin
(%
)4
%6
%
EP
S (
no
n a
nn
ua
lise
d)
1.0
71.4
01
.40
Th
ree
mo
nth
s e
nd
ed
(Rs.
in
mil
lio
ns,
exce
pt
EP
S d
ata
)
10
Fin
anci
al O
ver
vie
w
Str
ate
gic
Fo
cus
Nea
r
Ter
m
Ou
tlo
ok
•In
crea
se f
oo
tpri
nt
in R
adio
bu
sin
ess.
•Im
pro
ve
pro
fita
bil
ity o
f D
igit
al s
egm
ent
by f
ocu
sin
g o
n g
row
ing
rev
enu
e ex
po
nen
tial
ly.
•L
ever
age
the
stro
ng
bal
ance
sh
eet
(net
cas
h o
f R
s. 1
1,9
91 m
illi
on
) to
fu
nd
ex
pan
sio
n.
11
HT
Med
ia: A
t a
Gla
nce
oH
TM
L is
on
e o
f th
e le
adin
g pri
nt
med
ia
com
pan
ies
eng
aged
in
th
e pri
nti
ng
an
d
publi
shin
g
of
‘Hin
dust
an
Times’,
‘Hindustan’
(thru
it
s su
bsi
dia
ry)
and
‘Mint’,
the
seco
nd
larg
est
new
spap
er
dai
lies
of
India
bas
ed o
n t
ota
l re
ader
ship
in
Eng
lish
, H
indi
and
Bu
sin
ess
seg
men
ts
resp
ecti
vel
y.
o‘Hindustan
Times’
was
sta
rted
in
1924
and
has
a m
ore
th
an 8
5-y
ear
his
tory
as
on
e o
f
India’s
lea
din
g n
ewsp
aper
s.
oT
he
Co
mp
any
also
h
as
four
FM
ra
dio
stat
ion
s - “Fever
104” i
n D
elh
i, M
um
bai
,
Ben
gal
uru
and
Kolk
ata.
Th
e C
om
pan
y a
lso
op
erat
es a
job
port
al i
n t
he
inte
rnet
sp
ace,
call
ed w
ww
.Sh
ine.
com
. T
his
is
in a
ddit
ion
to t
he
exis
ting
web
site
s li
vem
int.
com
an
d
hin
du
stan
tim
es.c
om
.
oH
T
Med
ia
also
pu
bli
shes
tw
o
Hin
di
mag
azin
es N
and
an a
nd
Kad
amb
ini
thro
ugh
its
sub
sidia
ry
Hin
dust
an
Med
ia
Ven
ture
s
Lim
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.
Co
mp
an
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ack
gro
un
d
Ma
rket
Lea
der
ship
Po
siti
on
s
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Aver
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ip (
IRS
20
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)
2
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f le
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of
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titi
on
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he
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titi
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De
lhi
Bih
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Jha
rkh
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d
Pu
nja
b
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mb
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dig
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al (P
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Ra
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nd
ne
w-a
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dig
ita
l ch
an
ne
ls (
e.g
. In
tern
et
an
d M
ob
ile
)
HT
Med
ia: A
t a
Gla
nce
Content
13
Cer
tain
sta
tem
ents
in t
his
do
cum
ent
ma
y be
forw
ard
-loo
king
. Su
ch f
orw
ard
-loo
king
sta
tem
ents
are
subje
ct t
o
cert
ain
ri
sks
and
u
nce
rta
inti
es
like
re
gula
tory
ch
ang
es,
loca
l p
oli
tica
l o
r ec
ono
mic
d
evel
opm
ents
,
tech
no
log
ical
risk
s, a
nd
man
y o
ther
fa
cto
rs t
ha
t co
uld
cau
se o
ur
act
ual
resu
lts
to d
iffe
r m
ate
ria
lly
fro
m t
ho
se
conte
mpla
ted
b
y th
e re
leva
nt
forw
ard
lo
oki
ng
st
ate
men
ts.
HT
M
edia
L
imit
ed
wil
l n
ot
be
in
an
y w
ay
resp
on
sible
fo
r an
y a
ctio
n t
ake
n b
ase
d o
n s
uch
sta
tem
ents
and
und
erta
kes
no
ob
lig
ati
on
to
pu
bli
cly
upd
ate
thes
e fo
rwa
rd-l
ooki
ng s
tate
men
ts t
o r
efle
ct s
ub
seq
uen
t ev
ents
or
circ
um
sta
nce
s.
HT
Med
ia L
td
(CIN
: L
22121
DL
2002
PL
C11
78
74
)
Hin
dust
an T
imes
Ho
use
,
2n
d F
loo
r, 1
8-2
0,
Kas
turb
a G
and
hi
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g
New
Del
hi – 1
100
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, In
dia
Vin
ay M
itta
l
vin
ay.m
itta
l@hin
dust
anti
mes
.co
m
+9
1 1
1 6
65
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0
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pak
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dee
pak
.go
yal
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du
stanti
mes
.co
m
+9
1 1
24
43
10
54
6
Pri
yan
ka
Ko
hli
Har
jai
Pri
yan
ka.
har
jai@
hin
dust
anti
mes.
com
+
91
12
4 4
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Ad
lakha
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edia
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