HT Media Ltd, the publisher of Hindustan Times and Hindustan, reported total revenues of Rs. 510.8 crore during April-June 2012, compared to Rs. 510.5 crore last year - a growth of 0.1%.
Profit after tax (PAT) for the quarter was Rs. 40.7 crore, 21% down from Rs. 51.5 crore a year ago. Advertising revenues of the print segment stood at Rs. 372.5 crore, a decline of 3%, primarily due to a fall in pricing.
"The overall macro-economic environment continues to be tough, with the Indian economy experiencing its slowest GDP growth rate in 9 years. While this had an adverse impact on our advertising revenues, our diversification strategy has helped us maintain our position in terms of consolidated revenue," Shobhana Bhartia, chairperson and editorial director, HT Media, said.