HT Media posts 5% increase in total income in second quarter
HT Media Limited (HTML), the publishers of Hindustan Times, Mint and Hindustan, has posted a 5% increase in total income at Rs 535.1 crore for the quarter ended September 30, 2012, compared with Rs 511.9 crore in the same period last year.delhi Updated: Oct 13, 2012 23:12 IST
HT Media Limited (HTML), the publishers of Hindustan Times, Mint and Hindustan, has posted a 5% increase in total income at Rs 535.1 crore for the quarter ended September 30, 2012, compared with Rs 511.9 crore in the same period last year.
The company’s profit after tax declined 24% to Rs 33.3 crore during the quarter from Rs 43.8 crore in the same period in the previous year. “We continue to operate in a tough macro-economic environment, with advertising revenues across our print businesses facing headwinds,” said Shobhana Bhartia, chairperson and editorial director, HTML.
The company has reported a 1% decline in advertising revenues of print segment during the quarter to Rs 364 crore from Rs 369.2 crore in the same quarter of the previous year.
Raw material consumption has increased 8% to Rs 195.2 crore during the quarter from Rs 180.5 crore due to higher circulation and newsprint prices.
“We are, however, encouraged by the results of the latest India Readership Survey (IRS), which clearly show that we continue to consolidate our position among English and Hindi dailies. In addition, our radio and digital businesses continue to gain traction and deliver robust growth according to plan,” Bhartia said.
“Overall, we remain optimistic on the medium-term outlook for HTML and will deliver sustainable growth and profitability for our stakeholders as the economic environment improves,” Bhartia said.