Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
HT Media: Macroeconomic concerns loom large - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

HT Media: Macroeconomic concerns loom large

Jul 24, 2012

HT Media announced the first quarter results of financial year 2012-2013.The company has reported a 1% YoY decrease in top line and 21% fall in net profits respectively. Here is our analysis of the results.

Performance summary
  • Top line decreased by 1% YoY during the quarter. There was a 3% YoY decline in advertising revenue in the print segment. Circulation revenues increased by 8% YoY.
  • Owing to the fall in topline and 5% rise in operating expenditure, operating profits registered a fall of 25.7% YoY during the quarter.
  • Operating margins were down by 4.5%.
  • Interest expenses jumped by 64.6% to Rs 103 m in the quarter ended June 2012.
  • Net profits fell by 21.1% YoY as compared to the same quarter last year.

Financial performance snapshot
(Rs m) 1QFY12 1QFY13 Change
Net sales 4,945 4,899 -0.9%
Expenditure 4,046 4,230 4.6%
Operating profit (EBDITA) 899 669 -25.7%
EBDITA margin (%) 18.2% 13.6% 4.5%
Other income 159 209 31.3%
Interest 63 103 64.6%
Depreciation & amortisation 214 220 3.0%
Profit before tax 782 555 -29.1%
Profit before tax margin (%) 15.8% 11.3%  
Exceptional items - -  
Tax 243 129 -47.1%
Profit after tax before moinority 539 426 -21.0%
Share of minority 25 20  
Profit after tax  515 407 -21.1%
Net profit margin (%) 10.4% 8.3%  
No. of shares (m)     235.02
Diluted earnings per share (Rs)*     6.58
P/E (x)     13.94
(*trailing twelve month earnings)

What to expect?
At the current price of Rs 92, the stock is trading at a multiple of 14 times its trailing twelve month earnings. We shall update a detailed analysis post the results conference call with the management.

To Read the Full Story, Subscribe or Sign In
To Read the Full Story, Subscribe or Sign In

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms


Mar 22, 2019 (Close)


  • Track your investment in HT MEDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks