Hindustan Media Ventures Q2 profit rises more than fivefold

Hindustan Media Ventures Limited reported consolidated profit after continuing and discontinued operations of Rs 52.04 crore for the quarter ended September 30, 2026, compared with Rs 10.08 crore a year earlier, as continuing-operation profit after tax increased to Rs 55.51 crore and the discontinued OTTplay loss narrowed to Rs 3.47 crore.

How did Hindustan Media Ventures perform in Q2?

Hindustan Media Ventures increased consolidated profit more than fivefold year on year in the September 2026 quarter, with profit after continuing and discontinued operations rising to Rs 52.04 crore from Rs 10.08 crore. Basic and diluted earnings per share, including discontinued operations, rose to Rs 7.06 from Rs 1.37, while total comprehensive income reached Rs 47.35 crore against Rs 11.82 crore.

The gain came primarily from continuing operations. Revenue from operations increased to Rs 196.58 crore from Rs 176.23 crore, while total income, including other income, rose to Rs 248.41 crore from Rs 203.50 crore. Total expenses increased to Rs 180.16 crore from Rs 165.64 crore, producing profit before tax from continuing operations of Rs 68.25 crore, compared with Rs 37.86 crore.

Sequentially, continuing-operation revenue was broadly stable at Rs 196.58 crore, compared with Rs 197.18 crore in the quarter ended June 30, 2026. Continuing-operation profit after tax was Rs 55.51 crore, marginally below Rs 55.63 crore, but total consolidated profit rose from Rs 51.17 crore as the discontinued-operation loss reduced from Rs 4.46 crore to Rs 3.47 crore.

What drove Hindustan Media Ventures' continuing-operation earnings?

Hindustan Media Ventures' continuing-operation earnings rose as total income grew by Rs 44.91 crore year on year, exceeding the Rs 15.72 crore increase in expenses. Revenue from operations added Rs 20.35 crore, while other income increased to Rs 51.83 crore from Rs 27.27 crore. Earnings before finance costs, tax, depreciation and amortisation, or EBITDA, rose to Rs 74.24 crore from Rs 44.91 crore.

Cost of materials consumed increased to Rs 66.73 crore from Rs 56.24 crore, employee-benefit expense rose to Rs 37.29 crore from Rs 34.18 crore, and other expenses reached Rs 70.23 crore from Rs 68.22 crore. Finance costs declined to Rs 1.99 crore from Rs 2.08 crore, while depreciation and amortisation fell to Rs 4 crore from Rs 4.97 crore. The continuing-operations tax charge rose to Rs 12.74 crore from Rs 3.81 crore.

For the six months ended September 30, 2026, continuing-operation revenue was Rs 393.76 crore, up from Rs 340.83 crore in the corresponding prior-year period. Continuing-operation profit after tax increased to Rs 111.14 crore from Rs 60.12 crore, and the group reported one operating segment: printing and publishing of newspapers and periodicals.

What is the effect of discontinuing OTTplay?

Hindustan Media Ventures' discontinued OTTplay business remained loss-making in the September 2026 quarter, but its post-tax loss narrowed to Rs 3.47 crore from Rs 23.97 crore a year earlier. The board decided on March 26, 2026 to discontinue the business with effect from March 31, 2026, and new OTTplay subscription packs were not offered from that date.

OTTplay income fell to Rs 2.83 crore from Rs 21.42 crore in the comparable quarter, while expenses declined more sharply to Rs 7.10 crore from Rs 47.99 crore. Consequently, the loss before tax reduced to Rs 4.27 crore from Rs 26.57 crore. The September 2025 comparative results were presented as discontinued operations under Indian Accounting Standard 105.

For the six months ended September 30, 2026, OTTplay recorded a post-tax loss of Rs 7.93 crore, compared with a loss of Rs 39.80 crore a year earlier. Net cash used in discontinued operations was Rs 70.52 crore, versus Rs 34 crore in the corresponding six-month period, according to the consolidated cash-flow disclosure.

What do Hindustan Media Ventures' balance sheet and cash flows show?

Hindustan Media Ventures had total assets of Rs 2,476.29 crore at September 30, 2026, compared with Rs 2,465.78 crore at March 31, 2026. Total equity increased to Rs 1,688.65 crore from Rs 1,587.39 crore, while total liabilities fell to Rs 787.64 crore from Rs 878.39 crore. Current investments were Rs 1,054.12 crore and non-current investments were Rs 632.97 crore.

The group used Rs 68.75 crore in operating activities during the six months ended September 30, 2026, compared with cash generated of Rs 19.16 crore a year earlier. Trade receivables increased by Rs 20.34 crore and inventories by Rs 12.15 crore, while changes in current and non-current liabilities and provisions used Rs 59.32 crore. Investing activities generated Rs 84.51 crore, against cash used of Rs 70.68 crore in the prior-year period.

Cash and cash equivalents at September 30, 2026 were Rs 4.36 crore, alongside a bank overdraft of Rs 10.58 crore, resulting in negative Rs 6.22 crore in the cash-flow statement. This compared with positive Rs 14.86 crore at September 30, 2025. Non-current assets held for sale increased to Rs 27.76 crore from Rs 17.80 crore at March 31 after additional property, plant and equipment was classified following outsourcing of printing work at certain units.

What developments should Hindustan Media Ventures investors monitor?

Hindustan Media Ventures' board approved investments of up to Rs 88.40 crore on November 4, 2026. The approvals cover up to Rs 24.89 crore for equity shares in 1 Play Global Pte. Limited, up to Rs 13.51 crore for equity warrants or shares in Karnodakshayi Insurance Private Limited, and up to Rs 50 crore for compulsory convertible preference shares in Matter Motor Works Private Limited.

The filing also said subsidiary HT Noida (Company) Limited had positive net worth and positive net working capital at September 30, 2026, but its standalone accounts were prepared on a basis that it is not a going concern. Hindustan Media Ventures said the subsidiary has no business operations, operating cash flows or definitive business plans, and management expects to realise or settle its assets and liabilities under prevailing circumstances.

Conclusion

Hindustan Media Ventures' September-quarter results combined higher continuing-operation revenue, EBITDA and profit with a substantially smaller OTTplay loss. Continuing-operation profit after tax rose to Rs 55.51 crore from Rs 34.05 crore, while the group’s reported consolidated profit increased to Rs 52.04 crore from Rs 10.08 crore.

Next, investors can monitor execution of the three approved investments worth up to Rs 88.40 crore, progress on the plan to sell remaining assets classified as held for sale, and any development in HT Noida’s status given its lack of operations or a definitive business plan.