“Advertising revenue growth continues to be a challenge in our core Print business, with this quarter witnessing high level of uncertainty across industries on account of GST implementation. Our radio business continues to do well. New radio stations are generating revenue and the entire radio business witnessed an increase in operating profits. While advertising revenue in print has been soft, operating profits continue to grow steadily on the back of strong cost management and aided by favourable currency and commodity rates.
GST is expected to stabilize soon which should lead to better macroeconomic environment and result in higher advertising spends. With growth coming back to core business, we hope to deliver better results to our shareholders.”
Mrs. Shobhana Bhartia
Chairperson and Editorial Director, HT Media
(Commenting on the results and performance)