Moneycontrol PRO
UPCOMING EVENT:Know how Global Investing can be spread beyond the US markets by joining an engaging webinar on November 30, 11:30 a.m.

Buy HT Media; target of Rs 152: Angel Broking

Angel Broking is bullish on HT Media and has recommended buy rating on the stock with a target of Rs 152 in its July 30, 2014 research report.

July 30, 2014 / 05:43 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Angel Broking`s research report on HT Media

“HT Media reported a subdued set of results for 1QFY2015, both on the top-line and bottom-line front. The top-line growth was lower mainly due to lower growth in advertising revenue (primarily English edition). The company’s performance was subdued on the profitability front owing to lower operating performance and a higher tax rate (up 320bp yoy). HT Media’s Hindi subsidiary - HMVL registered a double digit advertising growth (17.3% yoy to Rs156cr on back of increase in yields and volume). However, the English advertising revenue de-grew by 4.0% yoy to Rs266cr owing to lower ad spending from government and real estate sector. The Management however expects English advertising yield to go up over FY2015, leading to improvement in English advertising revenues.”

“For the quarter, HT Media posted a de-growth of ~31.2% to Rs33cr on the earnings front owing to lower operating performance (operating margin contracted by 307bp yoy owing to higher news print and staff costs) and a higher tax rate (up 320bp). We believe that the company would perform well, both on the top-line and bottom-line fronts, going forward. This would be owing to an expected increase in revenue from new businesses like HT Mumbai, Radio and the Hindi editions; further, we also expect the company to gain some traction in its Digital businesses. Moreover, the company has a strong balance sheet which would make HT Media more capable for future expansion plans. Hence, we maintain Buy on the stock with a target price of Rs152,” says Angel Broking research report.


For all recommendations, click here 

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

first published: Jul 30, 2014 05:43 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark