HT media Q3 net up 11%, outlook robust
HT Media Ltd (HTML) has posted an 11% growth in net profit to Rs. 53.6 crore for the third quarter ended December, from Rs. 48.2 crore in the same period last year.business Updated: Feb 12, 2013 20:46 IST
HT Media Ltd (HTML) has posted an 11% growth in net profit to Rs. 53.6 crore for the third quarter ended December, from Rs. 48.2 crore in the same period last year.
The company's total income grew 5% to Rs. 570.9 crore from Rs. 542.9 crore a year ago. Advertising revenues of the print segment grew 2% to Rs. 414.9 crore from Rs. 407.3 crore, primarily due to higher volumes.
Circulation revenues grew 12% to Rs. 56.5 crore from Rs. 50.3 crore, driven by higher circulation and realisation per copy. Radio revenues increased 26% to Rs. 21.8 crore from Rs. 17.4 crore in the year-ago period.
"Our overall growth in revenue, combined with a persistent focus on cost optimisation, has resulted in a healthy improvement in profitability," said Shobhana Bhartia, chairperson and editorial director, HTML.
HT Media's business outlook continues to be strong on the back of gaining traction in digital businesses.
Increasing returns in new businesses such as HT Mumbai, Radio and Mint continue to contribute to revenue growth and improved profitability.
HTML publishes three leading daily newspapers, Hindustan Times (English), Hindustan (Hindi) and Mint (business). The company also has four FM radio stations, Fever 104.
It also runs the job portal www.shine.com, through its subsidiary Firefly e-Ventures Ltd.