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

Railway electrification: Easier said than done

Even as the railways minister Piyush Goyal lays thrust on the 100 percent electrification of entire rail network by 2022, the task cut out for the railways seems to be a strenuous one as it comes with multifarious challenges. Indian Railways has said that it would electrify 38,000 route kilo

A Triumfant meet

Prime minister Modi and president Putin’s meeting at the 19th Indo-Russian summit in New Delhi on October 5 has set a new pace for a ‘special and privileged strategic partnership’ between the two nations. This has come in the aftermath of the Modi-Putin informal meeting at Sochi on May

A space for faith

When the supreme court ruled that women of menstruating age cannot be prevented from going to the Ayyappa shrine in Sabarimala, political parties in Kerala hailed it as a historic victory for gender equality. But now the streets of Kerala are full of men and women protesting against the court order and b

Migrants at a crossroads

For the past fortnight, Gujarat has witnessed an exodus of migrants from Hindi-speaking states like Uttar Pradesh and Bihar. The migrants, mostly of the labouring classes, have been attacked by locals after a 14-month old girl was raped, allegedly by a Bihari whom the police have arrested. The rape survivo

GSL’s highest ever financial performance in 2017-18

Goa Shipyard Limited, CMD, Rear Admiral (retired) Shekhar Mital said that GSL’s revenue has moved up by 32 per cent from Rs 1,102 crore in 2017 FY to Rs 1,452 crore in 2018 FY, while operating profit has moved up fro

BHEL bags emission control equipment order from NTPC

BHEL has clinched four orders worth Rs 2,900 crore for emission control equipment from NTPC.    BHEL has been a major player in this area for more than a decade and was one of the earliest entrants in the Indian market for emission control equipment, having successfully exec

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter