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HT Media Q4 net profit at Rs 39 crore

Press Trust of India  |  New Delhi 

HT Media today reported a consolidated net profit of Rs 39.28 crore for the fourth quarter ended March 31.

The company had posted a consolidated net profit of Rs 34.84 crore in the corresponding period a year ago.

Total consolidated net sales during the March quarter were Rs 571.34 crore. It were Rs 533.91 crore a year ago, HT Media said in a BSE filing.

For the entire fiscal, HT Media's consolidated net profit was Rs 179.81 crore. It was Rs 207.53 crore in FY 2013-14.

The company's net sales were Rs 2,263.38 crore during FY 2014-15. It were Rs 2,166.01 crore in FY 2013-14.

The company said that its annual results are not comparable as the financial results of HT Burda Media, its erstwhile subsidiary, has been consolidated till September 30, 2013.

"Accordingly, the results of the year ended March 31, 2015 are not comparable with the result of the year ended March 31, 2014," HT Media said.

HT Media Chairperson and Editorial Director Shobhana Bhartia said: "We ended the year on a high note on the back of a growth in ad revenue and higher circulation in Mumbai and the Hindi belt."

Hindustan Times Mumbai edition and Hindustan's Uttar Pradesh editions strengthened their presence in their respective geographies, and were both profitable, she said.

On the future outlook, Bhartia said:" With a strong base, our continuing focus on digital initiatives and stronger tailwinds in the economy, we are confident of delivering value to our shareholders in the year ahead."

Meanwhile, in a separate filing, HT Media said that its board has recommended a dividend of Rs 0.40 per equity share of Rs 2 each.

Shares of HT Media were trading at Rs 99.95 per scrip during afternoon trade on the BSE, up 1.27 per cent.

First Published: Fri, May 15 2015. 14:32 IST