HT Media Q3 loss at ₹23.7 crore on new labour codes

HT Media Ltd, the publisher of Mint and Hindustan Times newspapers, on Wednesday reported widening of its consolidated net loss to ₹23.70 crore for the December quarter on account of provisions related to the implementation of the new labour codes. It had incurred a loss of ₹3.24 crore for October-December of the previous fiscal year.

According to a regulatory filing, HT Media reported an exceptional item (net loss) totalling ₹40.35 crore in the December quarter. This includes the incremental impact of ₹39.91 crore from the changes in the implementation of new labour codes.

The company has reported a profit before exceptional items and tax, which is up over two-fold to ₹13.33 crore. This was at ₹6.39 crore in the corresponding period of the last fiscal.

Revenue performance

While revenue from operations rose to ₹496.61 crore from ₹489.8 crore a year ago, total expenses fell to ₹518.94 crore from ₹524.05 crore, HT Media said.

The printing and publishing of newspapers and periodicals segment reported revenue of ₹394.84 crore, up from ₹386.80 crore a year ago. The radio broadcast and entertainment segment earned ₹33.70 crore, down from ₹51.13 crore, while the digital segment’s revenue rose to ₹66.67 crore from ₹51.45 crore.

HT Media's subsidiaries include Hindustan Media Ventures Ltd, HT Music and Entertainment Co. Ltd, Next Mediaworks Ltd, Next Radio Ltd, Mosaic Media Ventures Pvt. Ltd, HT Overseas Pte. Ltd, and HT Noida (Co.) Ltd.

“The third quarter of the financial year saw the company make consistent operational progress, characterized by stable topline performance and a steady growth in overall profitability," said Shobhana Bhartia, chairperson and editorial director, HT Media and Hindustan Media Ventures, in a note to shareholders. "These results reinforce the effectiveness of our ongoing operational initiatives to strengthen our businesses.”

The core print segment continued to demonstrate resilience, she added, posting growth on both an annual and sequential basis. This performance was largely driven by strong growth in advertising–particularly in English language titles–alongside steady circulation revenues. The combination of these gains and a disciplined approach to costs has translated into meaningful growth in profitability.

“Our digital business delivered a strong performance during the quarter, with revenues rising and margins improving. This trajectory validates our commitment to scaling our digital-first offerings while maintaining a clear path toward profitability,” Bhartia said, adding that the radio business continues to navigate a challenging market environment where revenues and margins remain under pressure. However, performance has remained stable on a sequential basis.