Ad revenues of HT Media decline 77 percent
Hindi printed newspapers witness lesser impact than English due to the vertical covering regions with lower impact of lockdown restrictions HT Media Ltd has reported net loss of Rs 51.95 cr in the quarter ended June 2020 as compared to Rs 142.48 cr in the quarter ended June 2019. The total revenue is down by 59 percent YOY. The total revenue stands at Rs 239.84 cr in the quarter ended June 2020 against Rs 588.27 cr in the previous year quarter. The media company states that the decline was witnessed across businesses mainly led by volume drops. In the print business, HT Media reported 77 percent decline in ad revenues and 37 percent drop in circulation revenues in the quarter ended June 2020 as compared to previous year quarter. The media company states that ad revenue de-growth was largely led by lower volumes on account of COVID-19. All advertising categories witnessed softness, led by education, automobiles, real estate, entertainment and retail.