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.
Five day long Aero India -2019 organised by Hindustan Aeronautics Limited (HAL) was inaugurated at Air Force Station, Yelahanka, Bengaluru on Wednesday. The French origin Rafale fighter jets are also participating in the event. Asia’ largest
In a major technological breakthrough, BHEL has developed the country’s first such regenerative 5,000 horse power (HP) WAG-7 electric locomotive with a modern regeneration system for Indian Railways. The electric loco was flagged-off by member traction, railway board, Gha
Prime Minister Narendra Modi dedicated a host of developmental projects at Ulao airport in Begusarai, Bihar. Modi said these projects will fuel the progress of Bihar and the eastern states. He said that Bihar had the potential to play a pivotal role in driving the growth of the country. “The
IndianOil Corporation has finalised a term contract for import of up to three MMT (million metric tonnes) of crude oil of US origin grades to diversify term crude sources in 2019-20 fiscal. The enterprise has finalised the contact on February 15, 2019. The value of the cont
When Dr Shruti Kamdi (pictured on left), a transfusion specialist at a leading Mumbai hospital, had her first child, she struggled to nurse her baby as she was unable to secrete enough milk. Admitted to a private hospital, she was put on medication to increase breast milk. But that didn’t help much.
After the liberalisation of the insurance industry in 2000, private firms (mostly in partnerships with foreign firms) have readily taken to the sector. Till FY18 there were 23 private firms in the life insurance sector and 21 in general insurance segment. However, it was only in 2016-17 that the first priv