HT Media Ltd registered a 73.6 per cent rise in net profit during the fiscal fourth quarter on the back of a sustained increase in revenues from advertisements, the company said.
Net profit rose to Rs 41.59 crore in the January-March quarter from Rs 23.96 crore in the same period a year ago, a company statement said. Total revenues rose 14.6 per cent to Rs 325.7 crore in the fiscal fourth quarter, it said. Revenues from advertisements rose 15 per cent to Rs 268.6 crore in the same period.
"Our performance during the quarter has been robust with existing operations performing very well and delivering good results. Our new initiatives have gained traction and have further accelerated the momentum." the statement quoted, Sobhana Bhartia, vice chairperson and editorial director of HT Media, as saying.
For the full year ended March 2008, HT Media’s net profit grew 26 per cent to Rs 144.6 crore, while annual revenues increased 14 per cent to Rs 1,227 crore.
"We believe that new initiatives are going to be the precursors of growth in the future as we continue to tread the path of continuous self-renewal and innovation," Bhartia said.
{{/usCountry}}"We believe that new initiatives are going to be the precursors of growth in the future as we continue to tread the path of continuous self-renewal and innovation," Bhartia said.
{{/usCountry}}"Hindustan Times in Delhi, Mumbai, Punjab and other markets remains a choice of readers. Hindustan (the Hindi daily) has reached new milestones in its growth trajectory and will contribute to attract focus and investment in futures," she said.
"Our radio business has achieved national presence with its launch in Kolkota and has already secured a premium position for itself in all the markets that its currently operating within a short span."