“The just concluded quarter and financial year has been extremely good and gives us optimism for the future. All our businesses have shown good growth. Our Hindi business has performed exceedingly well and as you are aware, we have filed the draft red herring prospectus for Hindustan Media Ventures Limited.
We are very enthused with the results of the inaugural quarterly IRS with both ‘Hindustan Times’ and ‘Hindustan’ clearly showing robust readership growth.
Radio continues to do well and has turned EBITDA positive this quarter. We are also very excited with the opportunities our joint venture with Burda offers and are looking to establish our position as a unique printing and pre-press house. I look forward to building on our strong growth momentum in the year ahead.”
Mrs. Shobhana Bhartia
Chairperson and Editorial Director, HT Media
(Commenting on the performance for Q4 FY2010)
- HT Media maintains its track record of strong readership growth according to the Indian Readership Survey, Q1 2010
- ‘Hindustan Times’ becomes the fastest growing English daily in Delhi, Mumbai, and All India; attains No. 1 position in Delhi
- ‘Hindustan’ consolidates No.3 position, continues to be the fastest growing Hindi daily with a 6% increase in readership
- ‘Mint’ consolidates its position as the No. 2 business daily increasing its lead over the nearest competition
- Hindi business continues to show robust financial performance
- New youth oriented product ‘htedge’ launched in Delhi NCR
- ‘Mint’ achieves good brand salience and successfully leverages national footprint
- Burda JV commences production; wins its first major international contract with Outiror
- Radio business turns EBITDA positive while consolidating position in the cities of its presence
- ‘Shine.com’ maintains growth trajectory; registrations cross 4 million users
- Dividend declared – 18%