HT Media Q2 net dips 49% at Rs16.28 cr

HT Media Q2 net dips 49% at Rs16.28 cr
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First Published: Mon, Oct 20 2008. 07 05 PM IST
Updated: Mon, Oct 20 2008. 07 05 PM IST
By PTI
Mumbai: HT Media today announced a net profit of Rs16.28 crore for the second quarter ended 30 September, a 49% dip over the corresponding period a year ago.
The company had a net profit of Rs31.94 crore for the same quarter in FY’08, HT Media said in a filing to the Bombay Stock Exchange.
Its total income rose 18.17% to Rs334.17 crore for the quarter under review, from Rs282.77 crore in the year-ago period.
For the six months ending 30September, the media house reported a net profit of Rs53.98 crore, a decline of 18% compared with the year-ago period.
It had a net profit of Rs66.10 crore in the same period a year ago. The total income during the six-month period rose to Rs661.40 crore, from Rs559.11 crore in the same period last fiscal.
Founded in 1924, HT Media operates 19 printing facilities across India. Besides Hindustan Times and Hindustan, the company publishes Mint. It also has a presence in electronic media through its subsidiary HT Music and Entertainment Company Ltd.
During the quarter, the company had pumped in Rs12.50 crore by way of equity shares and advances in its subsidiary company Firefly-O-Ventures. It also gave Rs5 crore loan to another subsidiary -- HT Music and Entertainment Ltd.
The company had changed its accounting policy from 1April, 2008 to adjust the foreign exchange fluctuation on borrowings, the filing added.
HT Media was trading at Rs84, up 3.07% in the late afternoon trade on the BSE.
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First Published: Mon, Oct 20 2008. 07 05 PM IST