HT Media Q1 results hit by pandemic

HT Media acquires VCCircle from News Corp

Hindustan Times the flagship English daily of the HT Media group
Hindustan Times the flagship English daily of the HT Media group

On a standalone basis, HT Media’s total revenue at Rs 96.17 crore in Q1 of FY 2020-21, represents a steep 71% drop from the Rs 334.61 crore revenue in Q1 of the previous financial year. HT Media Limited has achieved a consolidated revenue of Rs 239.84 crore in the quarter ending 30 June 2020, representing a drop of 59% from the Rs 588.27 crore figure in the same period in the previous year (FY 2019-20).

The EBITDA loss for Q1 FY2020-21 is Rs 28.39 crore compared to last year’s profit in Q1, which was Rs 89.03 crore. However, the net loss is lower this year at Rs. 55.64 crore compared to the net loss of Rs. 148.07 crore in Q1 of the last financial year.

Acquisition of VCCircle from News Corp

After its board meeting on 28 July 2020, HT Media announced that it would acquire Mosaic Media Ventures from Rupert Murdoch’s News Corporation. Mosaic operates news platforms VCCircle and TechCircle. HT Media will pay up to Rs. 6 crore plus Rs 1 later as a revenue lined milestone payment for 100% of the share capital.

According to HT Media, this strategic acquisition of an emerging B2B company will drive synergies across businesses. “The board of directors accorded approval to invest up to Rs 6 crore post working capital adjustment, and revenue linked milestones payment up to Rs 1 crore on a deferred basis, to acquire 100 % of the paid-up share capital of Mosaic held by NWS Digital Asia Pte Ltd and News Corporation (sellers), subject to finalization of definitive agreements,” submitted HT Media in a regulatory filing.

The company intends to “scale VCCircle and TechCircle to augment Mint’s tech and deals content editorial capabilities.” It also plans to unlock cost and revenue synergies and to leverage VCCircle’s events business while scaling up its database and research businesses.

Mosaic Media Ventures was incorporated in 2007 and operates two subscription-based news platforms – VCCircle and TechCircle. It also has two subscription-based research and database platforms – VCCEdge and SalesEdge. In addition, there is the events business.

Mosaic reported a turnover of Rs 9.1 crore in FY 2017-18; Rs 14.0 crore in FY 2018-19; and Rs 14.5 crore in FY 2019-20. HT Media informed the BSE in its filing that the acquisition will be done in cash and completed by 30 August 2020.

In 2024, we are looking at full recovery and growth-led investment in Indian printing

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.

India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.

India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.

– Naresh Khanna

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