HT Media Group reported a strong first quarter.

Consolidated revenue rose 15% to INR 497 Cr, with EBITDA nearly tripling to INR 90 Cr (12-point margin expansion) and PAT at INR 47 Cr.

Print advertising drove 16% segment revenue growth, boosted by yield improvements.

Radio operates leaner, and Digital's portfolio reset is underway for profitability.

A key discussion centered on a preferential issue.

While consolidated net cash is INR 922 Cr, HT Media Ltd. separately carries debt.

Management explained the issue, priced by SEBI norms, aims to reduce this debt, improving EPS.

They defended this approach as faster and more certain than a rights issue, despite some investor concerns about dilution.