HT Media Q1 net up 10% at Rs 38 cr

HT Media today announced a net profit of Rs 37.72 crore for the first quarter ended June 30, a 10.14  Per cent growth over the corresponding period a year ago.     

The company had a net profit of Rs 34.16 crore in the first quarter of FY08, HT Media said in a filing to the Bombay Stock Exchange.     

Total income of the company rose to Rs 332.89 crore in the June quarter from Rs 283.66 crore in the last fiscal year.    

"I am pleased to report strong financial performance despite the challenges of continuing high newsprint prices and our investment towards brand building and expanding our presence especially in Hindi speaking geographies," HT Media Vice Chairperson and editorial director Shobhana Bhartia said.     

 

"Ad revenues have improved healthily. Growth in the Hindi segment has been especially strong and we look forward to this continuing," she added.     

During the quarter, Hindustan, the hindi edition of HT launched its printing locations in Dehradun and Chandigarh.    

HT Media's wholly owned subsidiary Friely e-Ventures launched a new job portal Shine.Com     

The outlook of the company for FY09 continues to be robust, striding on the strong and growing presence of the company's core business and momentum achieved by expansing portfolio of new activities.    

Shares of HT Media were trading at Rs 110, down 0.90 per cent in the afternoon trade on the BSE.