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HT Media today reported consolidated net profit of Rs 32.67 crore on the back of net sales of Rs 540.51 crore in the first quarter ended June 30, 2014.
The company had posted a net profit of Rs 47.49 crore and net sales of Rs 532.23 crore in the corresponding period a year ago.
The company said the result of the quarter under review is not comparable with the corresponding quarter of the previous year as its sold its entire 51 per cent stake in joint venture HT Burda Media Ltd to its partner Burda Druck Gmbh, Germany on September 30 last year.
HT Media's total expenses in the quarter ended June 30, 2014 were at Rs 511.76 crore as against Rs 484.81 crore in the same quarter a year ago.
Shares of HT Media were trading at Rs 113.40 apiece in the afternoon trade, down 5.81 per cent from its previous close on the BSE.
