HT Media Ltd (HTML), which publishes English daily Hindustan Times, on Wednesday reported a 5% year-on-year increase in revenue to Rs 615.3 crore during the April-June quarter from Rs 585.9 crore a year ago, on the back of an increase in circulation and advertising revenues.
Net profit, however, fell 15.2% to Rs 35.7 crore during the quarter.
Advertising revenue rose by 5% for the quarter ended June 30, while circulation revenue grew 6.3% during the period.
“Our English dailies saw volume-led growth across markets. Hindustan maintained its upward growth trajectory, driven by our investments in both UP and Bihar. Our digital assets are increasingly gaining a foothold in their markets,” said Shobhana Bhartia, chairperson, HT Media, in a statement. “The radio business continues to be profitable and we aim to add to our portfolio of stations in Phase- III auctions. As the year progresses, we believe that we will continue on the growth path and deliver positive results even as the economic environment improves,” she added.