HT Media Q1 profit up 212%

The firm reports 33% rise in revenues for quarter ended June 30, up from Rs 185.8 crore to Rs 247.8 crore.

HT Media on Friday reported a whopping 212 per cent increase in its profit after tax at Rs 30.6 crore for the quarter ended June 30, 2006, against Rs 9.8 crore in the corresponding period previous year.

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The company's revenues during this quarter grew by 33 per cent and stood at Rs 247.8 crore as compared to Rs 185.8 crore in the same period previous year, a company release said.

The operating profit increased by 113.3 per cent at Rs 60.6 crore.

"Our Mumbai operations have been performing in line with plan, enabling us to attract national advertisers and better rates," HT Media Vice Chairperson and Editorial Director Shobhana Bhartia said.

The company intended to invest further in new growth initiatives during the current year, she added.