HT Media Q1 FY27 Results: Profit Soars Nearly 10x as Print Business Drives Strong Growth
HT Media Limited began FY27 on a strong note, reporting a significant improvement in profitability during the first quarter ended 30 June 2026. The media group posted 15% year-on-year revenue growth, while disciplined cost management and continued strength in its print business helped EBITDA more than triple and profit after tax increase almost tenfold.
The company’s English and Hindi print publications remained the primary growth engines, while its radio business continued restructuring and the digital segment focused on streamlining operations for long-term profitability.
Q1 FY27 Financial Highlights
HT Media delivered strong improvements across its key financial metrics during the quarter.
| Particulars | Q1 FY27 | Q1 FY26 | YoY Growth |
|---|---|---|---|
| Total Revenue | ₹497 crore | ₹433 crore | 15% |
| EBITDA* | ₹90 crore | ₹28 crore | 224% |
| EBITDA Margin | 18% | 6% | +12 percentage points |
| Profit After Tax (PAT)* | ₹47 crore | ₹4 crore | 991% |
| PAT Margin | 9% | 1% | Significant improvement |
| Net Cash | ₹922 crore | ₹976 crore | Strong cash position maintained |
*EBITDA and PAT are before exceptional items and share of joint ventures.
Chairperson: Print Business Continues to Anchor Growth
Commenting on the quarterly performance, Chairperson and Editorial Director Shobhana Bhartia said the company began the financial year on a steady note with both revenue and profitability improving.
According to the management:
- Print advertising continued to grow.
- Circulation revenue remained resilient.
- Cost discipline helped improve margins.
- Rising newsprint prices, a weaker rupee, and global supply chain uncertainties remain key challenges for future quarters.
The Board has also approved a preferential issue, subject to regulatory and shareholder approvals, to strengthen the company’s capital structure, optimize its debt profile, and support future business requirements.
Print Business Remains the Growth Driver
The print segment delivered another solid quarter with healthy advertising demand.
Print Segment Performance
| Particulars | Q1 FY27 | YoY Growth |
|---|---|---|
| Advertisement Revenue | ₹295 crore | 15% |
| Circulation Revenue | ₹52 crore | 1% |
| Operating Revenue | ₹376 crore | 16% |
| Operating EBITDA | ₹50 crore | 244% |
| EBITDA Margin | 13% | Up from 4% |
Despite higher newsprint costs, the company significantly improved profitability through stronger advertising revenue and disciplined cost management.
English Print Business Maintains Momentum
HT Media’s English print portfolio, led by Hindustan Times, continued to report healthy advertising growth.
English Print Highlights
- Advertisement revenue increased 12% YoY to ₹156 crore.
- Circulation revenue grew 14% YoY to ₹13 crore.
- The segment continued benefiting from improving advertiser demand.
Hindi Print Business Delivers Strong Advertising Growth
The Hindi newspaper business, operated through Hindustan Media Ventures (HMVL), recorded even stronger advertising growth.
Hindi Print Highlights
- Advertisement revenue rose 20% YoY to ₹139 crore.
- Circulation revenue remained broadly stable at ₹38 crore.
- The segment continued to benefit from strong regional advertising demand.
HMVL also reported strong standalone financial performance.
| Particulars | Q1 FY27 | YoY Growth |
|---|---|---|
| Total Revenue | ₹244 crore | 28% |
| EBITDA | ₹75 crore | 109% |
| PAT | ₹56 crore | 113% |
| EBITDA Margin | 31% | Improved from 19% |
Radio Business Becoming More Efficient
The radio business remained relatively stable despite a challenging industry environment.
Radio Segment
- Operating revenue increased 3% YoY to ₹32 crore.
- EBITDA loss reduced from ₹7 crore to ₹3 crore.
- EBITDA margin improved from -21% to -11%.
Management stated that surrendering certain non-viable FM radio licenses has helped create a leaner and more sustainable operating model.
Digital Business Focuses on Long-Term Profitability
The digital segment experienced a softer quarter as the company intentionally streamlined its business portfolio.
Digital Performance
| Particulars | Q1 FY27 |
|---|---|
| Operating Revenue | ₹27 crore |
| YoY Growth | -28% |
| EBITDA | -₹3 crore |
Management clarified that the decline was the result of a deliberate strategy to focus on fewer, higher-quality digital offerings capable of delivering sustainable long-term growth rather than chasing short-term revenue.
Cost Discipline Drives Margin Expansion
One of the biggest positives from the quarter was HT Media’s focus on operational efficiency.
Key cost trends included:
- Employee costs declined 11% YoY.
- Other operating expenses remained largely flat despite higher revenue.
- Improved operating leverage significantly boosted profitability.
This disciplined approach enabled EBITDA margins to expand from 6% to 18%.
Strong Balance Sheet Supports Future Growth
HT Media continues to maintain a healthy financial position.
Although net cash moderated to ₹922 crore, the company retains one of the strongest balance sheets among listed media companies.
The proposed preferential issue is expected to further strengthen liquidity while providing additional flexibility for future investments.