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MUMBAI:
HT Media's FM radio broadcast and entertainment business has
posted a profit of Rs 26.6 million before tax and interest
for the third quarter ending 31 December compared to a loss
of Rs 9.4 million in the same quarter last fiscal.
Revenue
from radio segment jumped to Rs 213.5 million from Rs 172.7
million.
The
company narrowed its loss from digital business to Rs 88.6
million from Rs 93.4 million in the previous fiscal. The company
reported 18 per cent increase in revenues to Rs 138 million
from Rs 117 million.
HT
Media, which publishes Hindustan Times, has seen its profit
from printing and publishing before tax and interest grow
to Rs 837.8 million from Rs 790.7 million. Revenue from the
segment has increased to Rs 5.1 billion from Rs 4.96 billion.
Net
profit grew higher by 11 per cent to Rs 561 million from Rs
480.6 million. Total Income for the quarter rose 5 per cent
to Rs 5.4 billion from Rs 5.2 billion.
Advertising
growth during the quarter remained flat with a 2 per cent
increase in advertising revenues of print segment to Rs 4.1
billion from Rs 4.0 billion primarily due to higher volumes.
Circulation
revenue grew 12 per cent to Rs 565 million from Rs 503 million
driven by higher circulation and realisation per copy.
Expenditure
during the quarter grew to Rs 4.59 billion from Rs 4.46 billion.
Consumption of raw materials declined to Rs 1.8 billion from
Rs 1.86 billion due to lower consumption. Employee cost grew
to Rs. 980 million from Rs. 936 million.
HT
Media Chairperson and Editorial Director Shobhana Bhartia,
“We are pleased to report strong financial and operational
performance this quarter. Our overall growth in revenue, combined
with a persistent focus on cost optimisation, has resulted
in a healthy improvement in profitability.
"This
has been backed by the latest India Readership Survey, which
has yet again confirmed our strong brand salience amongst
English and Hindi dailies. We continue to expand our readership
base in Mumbai and UP, and have retained our leadership positions
in Delhi, Bihar and Jharkhand.
"In
addition, our radio and digital businesses continue to deliver
robust growth according to plans. We are confident that our
strong and resilient business model, established brands and
sustained focus on cost reduction will continue to create
value and show even better results as the macro economic environment
improves.”
The
company has net cash of Rs 6 billion which is capable of supporting
investments in growing businesses whilst exploring new opportunities.
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