The company had posted net profit of Rs 22.41 crore in the April-June quarter of the previous financial year.
HT Media Chairperson and Editorial Director Shobhana Bhartia said: "The year has started on a cautious note. While April was promising, macroeconomic concerns and uncertainties around GST adversely affected advertising spends in the latter part of the quarter".
"We remain optimistic that sentiment and business will both improve in the second half of the year... We expect the core business to start showing growth and the new businesses to continue to profitably scale up -- thereby delivering value to our shareholders," Bhartia added.
HT Media's total expenses in the first quarter of the current fiscal were at Rs 570.52 crore, down 5.62 per cent, as against Rs 604.54 crore in the same quarter a year-ago.