DesiMartini.com and Shine.com lift HT Media Profits

HT Media Q4 net up six-folds at Rs 47.99 cr

PTI | May 12, 2010



Media major HT Media today posted over six-fold jump in its consolidated net profit at Rs 47.99 crore for the quarter ended March 31, 2010 on account of increased advertising and circulation revenues.

This is against a net profit of Rs 7.59 crore registered during the same quarter last fiscal.

"We re-launched Hindustan Times as a young brand and also expanded the reach of Hindi Hindustan and Mint (the business paper), which is a strategy that has worked for us," HT Media CEO Rajiv Verma told PTI.

The company's total income for the fourth quarter of FY 2009-10 stood at Rs 385.10 crore against Rs 342.37 crore in the same quarter previous fiscal.

For the financial year (FY 2009-10), HT Media's net profit zoomed to Rs 135.93 crore from Rs 0.90 crore during the previous fiscal.

Its total income increased to Rs 1,437.86 crore from Rs 1,359.07 crore, up 5.79 per cent.

"For the year ahead, we would invest about Rs 68-70 crore for further expanding the HT, Hindustan and Mint brand as well as for maintenance of our capital assets," Verma said.

For the year ahead, Verma said, "We will continue to outperform competitors. There is buoyancy in terms of advertisements and the market should grow."

The company also plans to introduce more digital properties around education and entertainment.

"Our online business, with DesiMartini.com and Shine.com has seen tremendous response from the market even when amid the slowdown. We are keenly studying the opportunities in the digital space around education and entertainment," Verma said.

HT has reported a net increase of Rs 58.6 crore in revenue from print segment owing to a 20 per cent growth in circulation revenue at Rs 183 crore due to rise in circulation numbers and improved realisations.

Advertisement revenue has also registered an increase of one per cent at Rs 1,143.9 crore on account of growth in volumes and improvement in price realisations, HT said in a statement.

Revenue from its Radio operations (Fever 104 FM) has also recorded a growth of 52 per cent at Rs 43.1 crore, primarily on account of increased advertising revenue.

 

Comments

 

Other News

Expanding Eureka!

Abright yellow van with figures of children playing with a whirligig, a Newton’s cradle, a magnetic compass rolls into the Government Higher Primary School in Kittaganahalli, on the outskirts of Bengaluru. Students in the playground leave what they are doing and mill about it in excitement. For they

The spark in the classroom

Not many children dream of starting an idyllic school of their own when they grow up. But Ramji Raghavan, founder of the Agastya International Foundation – which fosters the creative learning of science in stude

Trafficking survivors’ votes don’t count

While the entire nation is agog with political grapevine, political parties are weighing on all options to lure voters by touching upon issues that impact their lives. Several parties, including the BJP and the Congress have released their manifestos while many are about to join the bandwagon. The

“I have a bigger reason and motivation to join politics”

Urmila Matondkar joined the Congress party and within just two months into politics, the actor is already surrounded by controversies – from being accused of making anti-Hindu comments to inappropriate poll campaigning. Fielded against BJP’s Gopal Shetty in the Mumbai North constituency, Ma

Campaign trail with BJP’s Manoj Kotak

Dressed in white shirt and pants, three time Bhartiya Janta Party (BJP) corporator Manoj Kotak is now contesting from Mumbai north-east constituency. Kotak, representing BJP in the BMC, is ready to rally around Ward 125 in Ghatkopar east area. It’s about 7:30 pm on a hot April e

Modi is now the topic of a PhD thesis

Sunil Bhatt, a Gujarat-based professional, has completed what is possibly the first PhD thesis on prime minister Narendra Modi. The thesis, titled ‘Leadership, Governance and Development: A case study of Shri Narendra Modi’, has been accepted at the Veer Narmad South Gujarat Universit



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter