H T Media - March 2013 Results Preview - Motilal Oswal

- We expect HT Media to post revenue of INR5.17b, up 5% YoY.

- We expect ad revenue to grow 3% YoY to INR3.83b.

- We expect circulation revenue to grow 13% YoY to INR0.55b.

- EBITDA margin is expected to improve 280bp YoY to 12.6%.

- PAT is expected to grow 60% YoY to INR0.35b.

- The stock trades at a P/E of 13.5x FY14E and 12.2x FY15E. Neutral.

Source : Equity Bulls

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