“Print advertising is yet to see a revival on account of muted ad spends by national advertisers, further accentuated by the base effect due to the shifting of the festive season to the third quarter of the year. Hindi business showed a recovery in circulation revenue. Our operating performance continues to be adversely impacted by rising commodity prices coupled with the rupee’s depreciation.
Our Radio business continues to post strong performance with double digit revenue growth along with an improvement in profitability. We are hopeful that the upcoming festive season and the forthcoming parliamentary elections will lead to a resurgence in advertiser sentiment in the second half of the year.”
Mrs. Shobhana Bhartia
Chairperson and Editorial Director, HT Media Ltd and Hindustan Media Ventures Ltd
(Commenting on the results and performance)