HT Media Limited

Piyush Gupta

Group CFO - HT Media Ltd.

Pervez Bajan

Head Financial Controllership & Taxation - HT

22%

l numbers remain pretty much the same. Yash R: Sorry, on the English front, I can see a drop of 22% in the revenue. That is on account of? Anna Abraham: RPC (Realization per copy) as also mentio

30%

hat is the split of those businesses where we said we form a partnership with 100 people and only 30% qualified to go to the next round? Okay. So, let me try to kind of attempt your question in a ver

rs,

at this point in time, whilst we are tracking our investment companies in the next two to three years, we think there will be many such opportunities in the invested companies where we will get this op

100%

ses, and our other various businesses like OTTplay, we are setting up our target, and we have seen 100% growth on a y-o-y basis and we hope to repeat the performance going forward. Our Radio business

“So, there is no straight answer as to what percentage of warrants will be converted into equity.”

“If MobiKwik was a win, as per our operating thesis at this point in time, whilst we are tracking our investment companies in the next two to three years, we think there will be many such opportunities in the invested companies where we will get this opportunity.”

“But from a long-term business viability we keep on investing behind our copies, in our Print businesses, and our other various businesses like OTTplay, we are setting up our target, and we have seen 100% growth on a y-o-y basis and we hope to repeat the performance going forward.”

“Our cash position remains very firm, and our AFE book is growing, and we hope to get some more footprint in the next two or three days.”

“With that, we appreciate your time and we look forward to see you in the next quarter.”

Yash R

16

Anna Abraham

11

Piyush Gupta

9

Aaditya Mulani

6

Deepak Sharma

4

Meera Ruparel

1

Aaditya Mulani

Ladies and gentlemen, a reminder to all participants that you may use the “Raise Hand” option on your screen, if you wish to ask a question. 6 August 5, 2025 The next question is from the line of Yash R.

Yash R

Hi, Piyush. Hi, Anna. Good evening. Could you please let us know the verticals that have helped to achieve the growth in the Print segment, particularly the English part, HT.

Anna Abraham

I know I can read in the comments that there has been a higher government revenue versus last year. So, first of all, I mean, we must have been having a good amount of revenue. This year, is it normalized or is there any exceptional revenue that you received? Yes. If I may take it up. See last year same quarter, if you remember, we had the national elections, so, there was a Code of Conduct which was in play because of which government revenue was substantially lower. So therefore, this year, there is no such restriction, so government spending has been as usual and therefore that will of course, result in upside. But apart from the government revenue, commercial revenue also has fired for us this quarter.

Anna Abraham

Education is a big segment for Q1 so that would be one of the segments which fired. Across English and Hindi, it would be Education. Among the top 5 segments, 2-3 of them have been firing.

Piyush Gupta

Well, Yash, let me try to give you a context. I mean the Education, in the first quarter is a big segment, which is in the top 5 to 7 segments that we have published the advertising for that comes in the English newspaper – as your question is specifically related to English. The growth has been reasonably good on the commercial side, but we wouldn't like to give an exact number because it's a competitive number, we don't want to share but that's one of the segments which has fired. Okay. And what about on the circulation front? What are the copies? Are we stagnant? Are we growing? Or have those numbers gone down? Because in the investor presentation, I can see that the discounting is still continuing, right? Well, discounting as I have highlighted earlier, we are currently recruiting a lot new readers on the Hindustan side, right? So, all the discounting, which has happened is primarily happening here, which is a short-term trend, but Anna can give the exact specific. Anna, would you

Anna Abraham

Yes. So, in the English segment, the decline you have seen is largely on account of pricing only. Copies, as you can see sequentially also, we are flat. So, there's no change in copies. In 8 August 5, 2025 the Hindi business, we are actually growing in copies via-a-vis last year. Sequential numbers remain pretty much the same.