Visit http://indiaer.blogspot.com/ for complete details HT Media (Rating – Hold; Target Price – Rs166)
Expect ad revenue growth of 17% YoY and flat sequentially. Volume recovery in the English
space to spurt revenue growth, while a price hike in the Hindi space is likely to increase
revenues. Circulation revenues to de-grow by 5% on the back of a cover price decline in the
Jharkhand market.
Margins are expected to remain flat on sequential basis and marginally grow on YoY basis.
Net profit post minority interest (Hindi business has been listed during the quarter) to grow by
18% YoY.
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