Download latest annual report - HT Media

The highlights of consolidated financial performance are
summarised below:
( ` in Lac)
Particulars FY 12 FY 11 Growth%
Total Revenue
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207,800 181,017 15%
Revenue 154,412 138,885 11%
Circulation Revenue 19,769 18,277 8%
Radio & Entertainment 7,419 6,999 6%
Revenue from Digital 4,361 3,159 38%
EBITDA 36,189 36,595 -1%
PBT 23,409 25,710 -9%
PAT* 16,549 18,091 -9%
EPS (`) 7.04 7.70 -9%
Raw material cost 72,311 61,998 16%
Personnel cost 35,619 30,090 18%
Sales & Marketing cost 14,696 13,533 9%
*After minority share of Profit/Loss
Consolidated Revenues
Net Consolidated Revenues registered a growth of
15 percent, up from `1,810 Crore to `2,078 Crore. The broad
factors that contributed to this growth were as follows:
� Print Revenues increased by 13 percent, primarily driven
by the following:
o Growth of 11 percent in Advertising Revenues
which moved from `1,389 Crore in FY 11 to
`1,544 Crore in FY 12. This growth was primarily
driven by an increase in pricing as a result of
improved market share in almost all key markets of
HT Media.
o HT Burda Media Limited registered a revenue
growth of 71 percent as revenues grew from
`62 Crore in FY 11 to `106 Crore in FY 12. Sales
pipeline during FY 12 was comprised of a larger
proportion of domestic orders, which resulted in
higher profitability margins for the venture.
o Job work for third party printing contributed
additional revenues of `20 Crore, recording a
growth of 56 percent over last year.
o Circulation revenue registered a growth of
8 percent over last year at `198 Crore, following an
increase in newspaper circulation during the year.
This included the launch of two new editions of
Hindustan in Aligarh and Moradabad and the full
year impact of publications launched last year
(Hindustan in Gorakhpur and Mint in Ahmedabad).
22
� Revenues from the Radio & Entertainment segment
registered a growth of 6 percent, up from `70 Crore in
FY 11 to `74 Crore in FY 12. This growth was garnered in
a difficult environment.
� The Digital segment witnessed a growth of 38 percent in
its revenues from `31.6 Crore in FY 11 to `43.6 Crore in
FY 12. This growth was contributed by the success of the
HTCampus.com in its very first year of operations, as
well as HT Mobile Solutions.
� Income from treasury operations increased from
`29 Crore in FY 11 to `62 Crore in FY 12, primarily on
account of increased yield and expansion in the
investment corpus.
Consolidated Profits
While revenues registered a healthy growth, high input costs,
depreciation of the Indian rupee against US dollar and
inflationary situation in the economy resulted in lower
profitability for the year. Raw material costs increased by
16 percent over FY 11 due to higher domestic newsprint
prices, adverse impact of depreciation of the Rupee on
imported newsprint, and an increase in consumption due to
higher circulation. This was partially off-set by a reduction in
pagination and a judicious mix of lower grammage paper. The
increase in raw material consumption was also attributable to
the significant increase in operations of HT Burda in its
second year of operations.
Growth in manpower and related costs also registered an
increase due to expansion into new geographies, new
businesses and in keeping with the Company’s efforts to
retain and attract high quality talent pool.
The rise in Other Expenses during the year was marked by
significant increases in the following items:
o Foreign currency exchange fluctuation loss resulting
from depreciation of the Indian rupee versus the
US dollar
o Provision for diminution in the value of long-term equity
investments following erosion in the carrying value of a
few investments
As a consequence, net Consolidated EBITDA witnessed a
minor decline of 1 percent, down from `366 Crore in
FY 11 to `362 Crore in FY 12. EBITDA margin fell from
20 percent to 17 percent.
Depreciation for FY 12 includes the impact of full year
consolidated operations of HT Burda (the plant was fully
commissioned in June 2010) as well as accelerated
depreciation on some categories of assets where the useful
life has been revised downwards.