HT Media Q4 turns around to net profit of Rs15.89cr on impairment loss provisions in Mar-20 quarter

HT Media Ltd reported -24.91% lower consolidated net revenues for the Mar-21 quarter at Rs349.07cr

Jun 18, 2021 05:06 IST India Infoline News Service

HT Media Ltd reported -24.91% lower consolidated net revenues for the Mar-21 quarter at Rs349.07cr. On a sequential basis, net sales revenues were up 2.44% compared to total revenues in the Dec-20 quarter at Rs340.74cr.

Full year revenues for FY21 were -46.4% lower at Rs1,117cr. The media segment saw a virtual halt physical newspaper circulation and that proved to be a major hit for the subscription revenue flows as well as the corporate advertisement revenue flows. The numbers are picking up but COVID 2.0 has hit growth.

For the Mar-21 quarter, HT Media turned around to a net profit of Rs15.89cr compared to a net loss of Rs-175.76cr in the Mar-20 quarter. This was on account of a massive provision made by HT Media in the Mar-20 quarter of Rs250cr towards tangible and intangible asset impairment due to lag effect of COVID.

Net margins of 4.55% in the Mar-21 quarter compare favourably with NPM of 0.96% in the sequential Dec-20 quarter. For the full year FY21, HT Media posted net loss of Rs65cr due to the lag effect of the pandemic.


Financial highlights for Mar-21 compared yoy and sequentially


HT Media Ltd
Rs in Crore Mar-21 Mar-20 YOY Dec-20 QOQ
Total Income (Rs cr) ₹ 349.07 ₹ 464.84 -24.91% ₹ 340.74 2.44%
Net Profit (Rs cr) ₹ 15.89 ₹ -175.76 -109.04% ₹ 3.26 387.42%
Diluted EPS (Rs) ₹ 0.69 ₹ -7.62 ₹ 0.14
Net Margins 4.55% -37.81% 0.96%

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