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HT Media Ltd, the leading media firm having its flagship publication as the English daily Hindustan Times, has posted a consolidated net profit of Rs 358 million for the third quarter ended December 31, 2009. This was increased against the consolidated net loss of Rs 128 million in the same period last year.

The total consolidated revenues for the company increased by 6% to Rs 3661 million during the quarter. The profitability for HT Media has been driven by lower input costs and cost rationalization initiatives.

The EBITDA margin increased to 21% at Rs. 764 million from 8% at Rs. 268 million. The publications from the stable have witnessed sharp growth of 30% in circulation revenue.

According to the figures released by IRS Round 2 2009, the underlying strength of HT Media’s readership across newspaper segments has reaffirmed its position in the market. The flagship broadsheet ‘Hindustan Times’ retains No. 1 position in solus readership in Delhi and is the only broadsheet to have grown amongst the youth in Mumbai. Though, the overall readership declined to 21.3 lacs in Delhi and a marginal decline in readership to 5.03 lacs in Mumbai.

The Hindi publication ‘Hindustan’ continues to be fastest growing Hindi newspaper in UP while maintaining its leadership position in Bihar & Jharkhand with 75% & 50% readership share respectively

The Berliner business newspaper ‘Mint’ maintains its position as the No. 2 business daily in the country with 25% readership share in the markets it was covered.

‘Metro Now’, the tabloid newspaper published in JV with Bennett Coleman & Company Limited, has been temporarily shut down due to being a loss making vertical.

Net increase of Rs. 34 million in revenues from radio segment (operated under the brand name of Fever 104’) as it increased to Rs. 101 million from Rs. 67 million primarily on account of increased advertising

“Over the last year, despite economic constraints, we have taken several initiatives to expand our presence, make our offerings more contemporary, augment our infrastructure as well as streamline operations,” said Shobhana Bhartia, Chairperson and Editorial Director.

The Company looks to improve macro environment resulting in greater ad spends. Its foothold in Radio and ‘Mint’ to contribute is expected to contribute more to the revenue growth.

Also, the company has decided upon demerger of Hindi business to a separate subsidiary company Hindustan Media Ventures Ltd to bring more focus to the business.

A few other benchmarks achieved by Hindustan Times is its availaibility on the electronic reading device 'Kindle' and the content partnership with 'The Washington Post'.