HT Media Q1 net down 9.5% to Rs 22.41 crore

HT Media today reported a decline of 9.49 per cent in its consolidated net profit at Rs 22.41 crore for the first quarter ended June 30, 2016.
The company had posted a net profit of Rs 24.76 crore in the April-June quarter a year ago, HT Media said in a BSE filing.
Its consolidated net sales were up 4.43 per cent to Rs 609.29 crore during the quarter under review as against Rs 583.41 crore in the corresponding period of the previous fiscal.
HT Media Chairperson and Editorial Director Shobhana Bhartia said: "The first quarter of this year started on a cautious note with tepid topline growth. Macroeconomic concerns translated into restricted spends by large advertisers and affected our English print business more than Hindi print, while our other businesses continued to do well."

HT Media revenue from printing & publishing of newspaper and periodicals segment was up 2.43 per cent to 546.42 crore as against Rs 533.41 crore in the corresponding quarter.
Revenue from radio broadcast & entertainment was also up 35.19 per cent to Rs 33.15 crore compared with Rs 24.52 crore in the same period last fiscal.
The company is engaged in the printing and publishing of three dailies - Hindustan Times, Hindustan (through its subsidiary) and Mint.
It has eight FM radio stations and operates a job portal www.Shine.Com. It also publishes two Hindi magazines - Nandan and Kadambini.