Hindustan Media Ventures Limited (HMVL) has reported its financial results for the quarter and full financial year ended March 31, 2026. The company highlighted a period of decisive transformation with meaningful improvement in profitability, even as consolidated revenue remained broadly stable. The Print business demonstrated strong performance, driven by advertising revenue growth across English and Hindi mastheads, leading to higher profitability. However, the company noted concerns regarding rising newsprint costs, exacerbated by a weakening rupee and global supply chain disruptions. The Radio business experienced a decline in revenue due to a high base from prior year's event-led revenue and industry-wide issues. As part of its streamlining efforts, HMVL has surrendered non-viable radio licenses to sharpen its network footprint and improve profitability. In the Digital segment, the discontinuation of the ‘OTTplay’ business aligns with the company's focus on profitable growth. Management stated that while they attempted to make the unit economics work for OTTplay, the space became increasingly challenging, leading to the decision to exit. Consolidated financial highlights for Q4FY26 include total revenue of ₹558 crore (down 2%), EBITDA of ₹131 crore (up 5%), and PAT of ₹96 crore. For the full year FY26, revenue was flat, with EBITDA at ₹298 crore (up 8%) and PAT at ₹153 crore. The company maintains a robust net cash position of over ₹1,000 crore. Print advertising revenue grew by 10% to ₹313 crore in Q4FY26 and by 8% to ₹1,148 crore for the full year. Print English advertising revenue increased by 9% to ₹172 crore in the quarter and by 8% to ₹644 crore for the year. Print Hindi advertising revenue grew by 12% to ₹142 crore in the quarter and by 8% to ₹504 crore for the year. Circulation revenue for Print English saw a 13% increase in the quarter, primarily due to higher copies. Radio segment revenue declined, with operating revenue at ₹43 crore and operating EBITDA at a negative ₹7 crore for the quarter. For the full year, operating revenue was ₹140 crore with operating EBITDA at a negative ₹22 crore. Digital segment (Shine and Mosaic) operating revenue remained flat at ₹39 crore in the quarter with operating EBITDA at a negative ₹2 crore. For the full year, operating revenue was ₹155 crore and operating EBITDA was negative ₹8 crore. The company clarified that the increase in other operating income was due to the forfeiture of contractual revenue from counterparties in the AFE business. Management also confirmed that no further significant exceptional losses are expected from the discontinued operations of OTTplay and the surrendered radio licenses, although marginal losses might occur in FY27 due to servicing residual OTTplay subscriptions. Looking ahead, HMVL plans to prioritize investments in its core Print business and its Digital ventures, aiming to create long-term sustainable value for shareholders.
