“Advertising budgets continued to shrink, affecting growth despite a favourable base effect. Our revenue growth was also hit by persisting macroeconomic challenges, although the impact of RERA and GST implementation are both waning, with businesses getting used to them. Our operating performance was also impacted by higher newsprint prices. Amidst this, our radio business continued to grow in the double digits, and delivered yet another quarter of superior performance even as it improved its profitability. Our products are superior, brands strong and fundamentals of the business solid; but we do anticipate some short-term pressure on both growth and profitability.

Amidst this, our radio business continued to grow in the double digits, and delivered yet another quarter of superior performance even as it improved its profitability. Our products are superior, brands strong and fundamentals of the business solid; but we do anticipate some short-term pressure on both growth and profitability.”

Mrs. Shobhana Bhartia
Chairperson and Editorial Director,
HT Media Ltd and Hindustan Media Ventures Ltd
(Commenting on the results and performance)