HT Media Q2 Net down 17pc at Rs 36.42 crore

HT Media Ltd today reported 17.01 per cent decline in consolidated net profit at Rs 36.42 crore for the second quarter ended September 30, 2015.
The company had posted a net profit of Rs 43.89 crore in the July-September quarter of 2014-15.
Total income from operation during the quarter under review went up by 7.25 per cent to Rs 601.55 crore from Rs 560.88 crore a year-ago, the company said in a BSE filing.
"Our performance this quarter has been satisfactory despite subdued economic activity and tepid markets. Our English publications saw a growth in revenue even after factoring in a base effect, and this was driven by growth in both HT Mumbai and Mint," said HT Media Chairperson and Editorial Director Shobhana Bhartia.

"We successfully acquired the stations of our choice in the Phase- III FM auctions. The digital business grew in terms of revenue and saw a fall in losses," she further said.
On the outlook of the company, she said: "We are excited by the opportunities on offer, the prospects of our various businesses and are confident of executing our plans in the coming months."
HT Media is the publisher of daily newspapers Hindustan Times, Hindustan (through its subsidiary) and Mint. It operates four FM radio stations under the Fever 104 brand in Delhi, Mumbai, Bengaluru and Kolkata. It also operates a job portal www.Shine.Com.

Shares of HT Media today settled at Rs 83.50 apiece on BSE, down 8.44 per cent from previous close.