HT Media's digital business revenue up 40% in Q2 to Rs 24.9Cr; Shine.com grows 28%
Media and publishing group HT Media Ltd has reported 40 per cent increase in its revenues from its digital business for the second quarter ended September 30, 2014, to Rs 24.9 crore from Rs 17.8 crore in the year-ago period.
HT Media's digital businesses include the job portal Shine.com (which competes with the likes of Naukri.com), HT Mobile and HTCampus.com.
Shine.com grew its revenues 28 per cent while revenues from HT Mobile, which offers value-added services, digital content distribution and digital marketing on mobile, grew 54 per cent in Q2 over the same period last year.
At the same time, the company's overall revenues marginally rose to Rs 594.8 crore from Rs 591.6 crore last year
"Our growth initiatives in Mumbai and UP continue to deliver results. Our digital businesses have shown robust growth and our radio business continues to outperform," said Shobhana Bhartia, chairperson and editorial director at HT Media.
"We remain optimistic on the medium term outlook for HTML as the economy revives and industrial growth gets back on track. We believe there will be significant opportunities for the company as the economic environment improves," she added.