“The pressure on revenue has continued in our print business. While our English business has declined marginally, our Hindi business has reported growth. The cost rationalisation initiative we undertook last year continues to deliver good results with benefits visible across all cost items. Our radio business continues to grow, albeit in the single digits, but amidst an industry-wide slowdown. Both our new and existing radio stations posted revenue growth even as profit margins in the business continue to improve.

There are some signs of an upcoming recovery as evidenced by advertising revenue picking up in the second half of the quarter. With the teething issues around GST resolved, we expect growth in the coming financial year.”

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