HT Media Jan-March net profit zooms by 82% | business | Hindustan Times
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HT Media Jan-March net profit zooms by 82%

business Updated: May 14, 2013 20:51 IST
HT Correspondent
HT Media Limited

HT Media Limited (HTML) on Tuesday announced an 82% growth in its net profit during the fourth quarter ending March 31, 2013 to Rs 40.1 crore from Rs 22 crore during the same quarter of the previous year.

Total revenues during the fourth quarter-ending March 31, 2013 increased 3% to Rs 525.2 crore from Rs 511.2 crore.

Earnings before interest, taxes, depreciation and ammortisation grew 46% during the quarter to Rs 96.4 crore on an 8% decline in raw material costs.

For the year-ending March 31, 2013, net profits stood at Rs 167.7 crore up from Rs 165.5 crore during 2011-12 and revenues stood at Rs 2,142.2 crore-a growth of 3% as compared to Rs 2,076.5 crore during 2011-12. The board has recommended a dividend of 20%.

Advertising revenues of the print segment during the quarter increased to Rs 377.8 crore from Rs 373.6 crore while circulation revenues grew 19% during the quarter to Rs 57.4 crore from Rs 48.3 crore driven by an increase in realisation per copy.

"We closed the year on a healthy note led by a stable advertisement environment and our emphasis on maintaining tight cost controls," said Shobhana Bhartia, chairperson and editorial director, HTML. "While the overall economy continues to face constraints, our diversification strategy has kept us in good stead."

"With the advertisement environment bottoming out amid prospects for an economic revival in India, we remain optimistic about the long-term outlook," Bhartia said.