HT Media Digital, Radio Businesses Turn EBITDA Positive In Q2 FY27

HT Media Limited's digital and radio businesses returned to positive operating EBITDA in the second quarter of FY27, supported by cost rationalisation and portfolio restructuring, even as both segments reported a decline in revenue.

For the quarter ended September 30, 2026, digital revenue declined 30% year-on-year to Rs. 28 crore, while radio revenue fell 23% to Rs. 25 crore. Despite the revenue contraction, cost optimisation measures helped the digital business report an operating EBITDA of Rs. 1 crore, with a 3% margin, while radio posted an operating EBITDA of Rs. 2 crore, translating into a 9% margin. Both businesses had reported operating losses in Q1 FY27.

The improvement in radio profitability follows the company's decision in May 2026 to surrender five loss-making FM radio licences. The restructuring included the closure of Radio Nasha in Mumbai, Radio One in Delhi, Mumbai and Bengaluru, and Radio in Chennai. The move also resulted in a net exceptional gain of Rs. 1.18 crore in H1 FY27 through lease terminations and asset impairments.

The digital business also underwent restructuring, with subsidiary Hindustan Media Ventures Limited (HMVL) discontinuing its OTTplay subscription business from March 31, 2026. Pre-tax losses from discontinued operations narrowed to Rs. 4.27 crore in Q2 FY27, compared with Rs. 26.01 crore in the corresponding quarter last year.

Meanwhile, HT Media's print business reported an 8% increase in operational revenue to Rs. 386 crore during the quarter. Hindi print advertising revenue grew 10% to Rs. 194 crore, while print advertising revenue increased 5% to Rs. 192 crore.

However, print EBITDA declined 6% to Rs. 35 crore, with margins contracting to 9% from 11% a year earlier. The pressure was attributed to a 15% increase in newsprint costs and rupee depreciation. The company also outsourced printing operations at select units and reclassified certain plant, machinery and investment properties as assets held for sale as part of its efforts to streamline operations.

At the consolidated level, revenue from continuing operations increased 2.5% to Rs. 441.59 crore. Total income stood at Rs. 501.71 crore, supported by a 28% rise in other income to Rs. 60.12 crore.

HT Media reported a consolidated net profit of Rs. 35.94 crore, compared with a net loss of Rs. 4.34 crore in Q2 FY26, after accounting for discontinued operations.

Employee benefit expenses declined to Rs. 94.89 crore during the quarter. The company also maintained a net cash position of approximately Rs. 930 crore as of September 30, 2026.

The latest results reflect HT Media's continued focus on operational efficiency and portfolio rationalisation, with its digital and radio businesses returning to operating profitability despite lower revenues. The print business, meanwhile, continued to face pressure from rising input costs.