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HT Media Q2 net profit jumps over two-fold to Rs 66 cr

Revenue from printing and publishing business was down at Rs 494.89 crore

Press Trust of India  |  New Delhi 

HT Media Q2 net jumps over two-fold at Rs 66 cr

today reported over two-fold jump in consolidated net profit at Rs 66.22 crore for the quarter ended September 30, 2017, mainly on account of lower

The media firm had posted a net profit of Rs 30.93 crore during the same period previous fiscal, said in a regulatory filing.

The company's net sales during the quarter under review however decline 6.90 per cent to Rs 560.63 crore as against Rs 602.23 crore in the year-ago period.

Total during the period stood at Rs 507.62 crore compared to Rs 606.67 crore in the of 2016-17.

from printing and publishing business was down at Rs 494.89 crore during the quarter as against Rs 525.95 crore in the year-ago period.

Radio broadcast and entertainment was up at Rs 42.78 crore compared to Rs 36.13 crore.

"Advertising growth continues to be a challenge in our core Print business, with this quarter witnessing high level of uncertainty across industries on account of GST implementation. Our radio business continues to do well," Chairperson and Editorial Director Shobhana Bhartia said.

She further said while advertising in print has been soft, operating profits continue to grow steadily on the back of strong cost management, aided by favourable currency and commodity rates.

Shares of were trading 10.65 per cent up at Rs 106 per scrip on BSE.

First Published: Tue, October 17 2017. 14:51 IST