HT Media Ltd, which publishes Hindustan Times, on Monday announced a 12 per cent growth in revenues during the fourth quarter ending March 31, 2010 at Rs 385 crore, while net profits rose five-fold at Rs 48 crore.
For the year-ending March 31, 2010, consolidated revenues stood at Rs 1,438 crore—a growth of 6 per cent over the Rs 1,359 crore of 2008-09.
Net profit during the year stood at Rs 136 crore, up from Rs 90 lakh in 2008-09. Traction in advertising and lower input costs aided profitability.
“The just concluded quarter and financial year has been extremely good and gives us optimism for the future,” said Shobhana Bhartia, Chairperson and Editorial Director, HT Media. “All our businesses have shown good growth. Our Hindi business has performed exceedingly well and we have filed the draft red herring prospectus for Hindustan Media Ventures Ltd.”
The Board has also recommended an 18 per cent dividend.