NEW DELHI: HT Media Ltd (HTML), the publisher of Hindustan Times, has posted a 0.8% growth in net profit for the fourth quarter ended March 31, 2016 at Rs 49.7 crore compared to Rs 49.3 crore in the same quarter of the previous year.
Total revenue during the quarter increased 9.2% to Rs 684.4 crore, from Rs 626.7 crore in the same period of the previous year.
For the full year ended March 31, 2016, net profit fell 1.7% to Rs 214.2 crore, compared to Rs 217.9 crore in the previous year. Total revenue during the year went up 8.1% to Rs 2,655.1 crore, from Rs 2,457.3 crore in the previous year.
“All our businesses grew in the quarter and we are happy to close the year on a positive note,” said Shobhana Bhartia, chairperson, HTML. “This year is rich in opportunities to expand our reach and offerings. We believe we are well placed to tap these and that our innovative strategies, prudent and timely investments, and world-class execution will continue to differentiate us from the competition.”
Advertising revenue during January-March rose 8.5% to Rs 496.7 crore, from Rs 457.9 crore a year-ago. For 2015-16, advertising revenue rose 7.5% to Rs 1,980.9 crore from Rs 1,843.6 crore in the previous year.