HT Media registers 61% growth in Q2

October 28, 2010

Source: MM Network

By: MediaMughals

HT Media Limited, the company having premier newspaper entities like Hindustan Times, Dainik Hindustan and other interests in media sector, has come up with its quarterly financial report card for the second quarter of current fiscal year.

In the results, the company has posted an incredible 61% growth in its net profit for the quarter ended on 30th September. The growth rode on the tremendous higher advertising revenues during the period as compared to same period last year.

The net profit of the company stood at Rs.38.8 crore for the period from Rs.24.1 crore a year ago.

The net revenue registered for Q2 is Rs445.5 crore surging by a considerably good 27%.

Shobhana Bharatia (Chairperson/Editorial Director, HT Media) commented, "We are seeing a visible improvement in the macro environment, which, in turn, has translated into strong financial and operating performance for the quarter under review. Our growth is driven by an expanding readership base, strong product innovation and enhanced advertising revenues."

Bhartia added, "The results from the recent IRS Q2 2010 survey is a testimony to the strides made by the company to entrench its presence and reach in the English, Business and Hindi dailies."

During the quarter the company clocked a 44% increase in revenue from radio and entertainment business to Rs.14.1 crore from 9.8 crore in the same period last year.

During the quarter, the company's advertising revenue increased by 17% to Rs.329.4 crore from Rs.282.1 crore a year ago.